Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Apr. 01, 2015 | Jun. 30, 2014 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | IDI | ||
Entity Registrant Name | Tiger Media, Inc. | ||
Entity Central Index Key | 1460329 | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 13,888,454 | ||
Entity Public Float | $19,671,341 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
CURRENT ASSETS | ||||
Cash and cash equivalents | $4,178 | $5,605 | ||
Accounts receivable | 1,742 | 1,563 | ||
Amounts due from related parties | 40 | |||
Prepaid expenses and other current assets | 265 | 799 | ||
Deferred tax assets | 74 | 37 | ||
Total current assets | 6,259 | 8,044 | ||
NON-CURRENT ASSETS | ||||
Property and equipment, net | 1,502 | 1,584 | ||
Long-term deferred expenses | 646 | 917 | ||
Intangible assets, net | 1,635 | 2,001 | ||
Total non-current assets | 3,783 | 4,502 | ||
Total assets | 10,042 | 12,546 | ||
CURRENT LIABILITIES | ||||
Accounts payable | 1,231 | 1,196 | ||
Accrued expenses and other payables | 739 | 235 | ||
Acquisition consideration payable | 464 | 464 | ||
Amounts due to related parties | 65 | 73 | ||
Deferred revenue | 70 | 9 | ||
Income tax payable | 4 | |||
Total current liabilities | 2,569 | 1,981 | ||
Total liabilities | 2,569 | 1,981 | ||
SHAREHOLDERS' EQUITY | ||||
Common Shares $0.0005 par value 200,000,000 shares authorized, 7,291,200 and 7,120,148 shares issued and outstanding on December 31, 2014 and 2013, respectively | 4 | [1] | 4 | [1] |
Additional paid-in capital | 146,214 | 145,778 | ||
Accumulated other comprehensive loss | -4,357 | -4,362 | ||
Accumulated deficit | -134,388 | -130,855 | ||
Total shareholders' equity | 7,473 | 10,565 | ||
Total liabilities and shareholders' equity | $10,042 | $12,546 | ||
[1] | All per share amounts and shares outstanding for all periods have been retroactively restated to reflect Tiger Media's 1-for-5 reverse stock split, which was effective on March 19, 2015. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 7,291,200 | 7,120,148 |
Common stock, shares outstanding | 7,291,200 | 7,120,148 |
Reverse stock split ratio | 0.2 | 0.2 |
Reverse stock split description | 1-for-5 | 1-for-5 |
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Loss (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Income Statement [Abstract] | ||
Net revenues | $3,006 | $2,875 |
Cost of revenues | -2,791 | -1,765 |
Gross profit | 215 | 1,110 |
Operating expenses | ||
Sales and marketing expenses | -885 | -788 |
General and administrative expenses | -2,931 | -4,397 |
Gain from extinguishment of acquisition consideration payable | 99 | |
Loss from operations | -3,601 | -3,976 |
Other income/(expense) | ||
Interest income | 75 | 12 |
Other expense | -48 | -4 |
Total other income | 27 | 8 |
Loss before income taxes | -3,574 | -3,968 |
Income taxes benefit | 41 | 33 |
Net loss | -3,533 | -3,935 |
Loss per share | ||
Basic and Diluted | ($0.49) | ($0.63) |
Weighted average number of shares outstanding - | ||
Basic and diluted | 7,279,949 | 6,272,570 |
Comprehensive loss: | ||
Net loss | -3,533 | -3,935 |
Foreign currency translation adjustment | 5 | 71 |
Net comprehensive loss | ($3,528) | ($3,864) |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | ||
Reverse stock split ratio | 0.2 | 0.2 |
Reverse stock split description | 1-for-5 | 1-for-5 |
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Retained Earnings Accumulated Deficit [Member] | ||
Beginning balance at Dec. 31, 2012 | $6,473,000 | $3,000 | $137,823,000 | ($4,433,000) | ($126,920,000) | ||
Beginning balance, shares at Dec. 31, 2012 | [1] | 6,028,748 | |||||
Net loss | -3,935,000 | -3,935,000 | |||||
Foreign currency exchange translation adjustment | 71,000 | 71,000 | |||||
Issuance of common shares for share incentive plan | 0 | 0 | 0 | 0 | 0 | ||
Issuance of common shares for share incentive plan, shares | [1] | 23,656 | |||||
Share-based compensation | 1,648,000 | 1,648,000 | |||||
Purchase of intangible assets | 2,200,000 | 2,200,000 | |||||
Purchase of intangible assets, shares | [1] | 410,448 | |||||
Exercise of warrants | 4,108,000 | 1,000 | 4,107,000 | ||||
Exercise of warrants, shares | 657,296 | 657,296 | [1] | ||||
Ending balance at Dec. 31, 2013 | 10,565,000 | 4,000 | 145,778,000 | -4,362,000 | -130,855,000 | ||
Ending balance, shares at Dec. 31, 2013 | [1] | 7,120,148 | |||||
Net loss | -3,533,000 | -3,533,000 | |||||
Foreign currency exchange translation adjustment | 5,000 | 5,000 | |||||
Issuance of common shares for share incentive plan | 0 | 0 | 0 | 0 | 0 | ||
Issuance of common shares for share incentive plan, shares | [1] | 171,052 | |||||
Share-based compensation | 436,000 | 436,000 | |||||
Ending balance at Dec. 31, 2014 | $7,473,000 | $4,000 | $146,214,000 | ($4,357,000) | ($134,388,000) | ||
Ending balance, shares at Dec. 31, 2014 | [1] | 7,291,200 | |||||
[1] | All per share amounts and shares outstanding for all periods have been retroactively restated to reflect Tiger Media's 1-for-5 reverse stock split, which was effective on March 19, 2015. |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Stockholders' Equity [Abstract] | ||
Reverse stock split ratio | 0.2 | 0.2 |
Reverse stock split description | 1-for-5 | 1-for-5 |
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | ($3,533) | ($3,935) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation of property and equipment | 366 | 182 |
Amortization of intangible assets | 367 | 199 |
Amortization of long-term deferred expenses | 267 | 66 |
Share-based compensation | 436 | 1,648 |
Deferred tax benefit | -37 | -37 |
Gain on extinguishment of acquisition consideration payable | -99 | |
Loss on disposals of fixed assets | 6 | |
(Increase) / decrease in assets: | ||
Accounts receivable | -179 | -1,563 |
Prepaid expenses and other current assets | 620 | -1,518 |
Amounts due from related parties | 40 | -40 |
Increase / (decrease) in liabilities: | ||
Accounts payable | 203 | 151 |
Accrued expenses and other payables | 497 | -123 |
Amounts due to related parties | -8 | -38 |
Deferred revenue | 61 | 9 |
Income taxes payable | 4 | |
Net cash used in operating activities | -900 | -5,088 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | -548 | -706 |
Net cash used in investing activities | -548 | -706 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from exercise of warrants | 4,108 | |
Net cash provided by financing activities | 4,108 | |
Foreign currency translation adjustment | 21 | 82 |
Net decrease in cash and cash equivalents | -1,427 | -1,604 |
Cash and cash equivalents at beginning of year | 5,605 | 7,209 |
Cash and cash equivalents at end of year | 4,178 | 5,605 |
SUPPLEMENTAL DISCLOSURE INFORMATION | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-cash investing transactions: | ||
Acquisition consideration settled | 99 | |
Purchase of intangible assets with common shares | $2,200 |
Principal_activities_and_organ
Principal activities and organization | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Principal activities and organization | 1. Principal activities and organization |
(a) Principal activities | |
Tiger Media, Inc. (the “Company” or “Tiger Media” or “IDI”, formerly known as SearchMedia Holdings Limited) is a holding company and, through its consolidated subsidiaries (collectively the “Group”), is principally engaged in the provision of advertising services in the out-of-home advertising industry. Out-of-home advertising typically refers to advertising media in public places, such as billboards, luxury shopping mall LCDs and furniture displays. | |
(b) Organization | |
On October 30, 2009, the Company completed the acquisition of all the issued and outstanding shares and warrants of SearchMedia International Limited (“SearchMedia International”) (“Business combination”). SearchMedia International security holders, including certain note holders and warrant holders, received ordinary shares, or securities exercisable or exchangeable for ordinary shares, of the Company. The business combination was accounted for as a reverse recapitalization, whereby SearchMedia International is the continuing entity for financial reporting purposes and was deemed to be the accounting acquirer of SearchMedia Holdings Limited. On December 14, 2012, SearchMedia Holdings Limited changed its name to Tiger Media, Inc. | |
Prior to January 1, 2008, SearchMedia International incorporated Jieli Investment Management Consulting (Shanghai) Co., Ltd. (“Jieli Consulting”), which in turn entered into contractual agreements ( “VIEs Arrangements”) with the owners of Shanghai Jingli Advertising Co., Ltd. (“Jingli”). In 2008, Jingli, the VIE, acquired 100% of the equity interests of twelve subsidiaries. | |
On December 11, 2009, Ad-Icon Company Limited (“HK Ad-Icon”), a subsidiary of Jingli established in HKSAR, established Ad-Icon Advertising (Shanghai) Co., Ltd. (“Ad-Icon Shanghai”), a wholly-owned subsidiary in China, which is permitted to operate advertising businesses in China. In 2010, Ad-Icon Shanghai, acquired 100% of the equity interests in Zhejiang Continental Advertising Co., Ltd. (“Zhejiang Continental”). In addition, 100% of the equity interests in five subsidiaries acquired by Jingli were transferred to Ad-Icon Shanghai during 2010 and 2011. | |
Effective on December 23, 2011, the Company terminated the VIEs arrangements and ceased to consolidate the financial results of the VIE and its subsidiaries. | |
The Company gradually disposed of certain of its wholly-owned subsidiaries prior to November 30, 2012. On December 31, 2012, the Company divested SearchMedia International and its subsidiaries to Partner Venture Holding Limited (“Partner”), an independent third party, to eliminate the remaining earn-out obligations and potential tax liabilities pursuant to the acquisition agreements with the subsidiaries of SearchMedia International. | |
On August 15, 2012, the Company established Tiger Media Global Limited, a wholly-owned BVI subsidiary. On November 28, 2012, Tiger Media Global established Shanghai Tiger Shangda Management Consulting Co., Ltd. (“Tiger Shangda”). On November 30, 2012, 100% of the equity interest in Shanghai Tiger Yaoyang Advertising Co., Ltd. (“Tiger Yaoyang”) was transferred to Tiger Shangda. Tiger Yaoyang was incorporated on September 18, 2012, and started to operate the LCD advertising businesses in China in December 2012. | |
On October 15, 2012, the Company established Tiger Media Investments Limited (“Tiger Media Investments”), a wholly-owned BVI subsidiary. On April 11, 2013, Tiger Media Investments established Tiger Media Limited, which was incorporated in Hong Kong to operate outdoor advertising business in Hong Kong. On March 21, 2014, Tiger Media Investments established Shanghai Tai Tian Advertising Co., Ltd. (“Shanghai Tai Tian”), which was incorporated in Shanghai Pilot Free Trade Zone. | |
On March 21, 2015 (the “Effective Date”), Tiger Media and TBO Acquisition, LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of Tiger Media established on December 11, 2014 (the “Merger Sub”), completed its previously announced merger (the “Merger”) with The Best One, Inc. (“TBO”), pursuant to the terms and conditions of the Merger Agreement and Plan of Reorganization, as amended (the “Merger Agreement”) dated as of December 14, 2014, by and among Tiger Media, Merger Sub, TBO and Derek Dubner, solely in his capacity as representative of the TBO shareholders. Before the Merger, on October 2, 2014, TBO acquired 100% of the membership interests of Interactive Data, LLC, a Georgia limited liability company (“Interactive Data”), a data solutions provider. The Merger was consummated effective as of March 21, 2015. | |
Prior to the Merger, on March 20, 2015, Tiger Media completed its domestication from the Cayman Islands to Delaware, as a Delaware Corporation (“Domestication”). As a result of the Domestication, Tiger Media no longer qualifies as a “foreign private issuer” as that term is defined under the U.S. Federal securities laws. As such, Tiger Media will now file reports as a U.S. domestic reporting company under the U.S. Securities laws |
Summary_of_significant_account
Summary of significant accounting policies | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Accounting Policies [Abstract] | |||||
Summary of significant accounting policies | 2. Summary of significant accounting policies | ||||
(a) Basis of preparation and liquidity | |||||
The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). | |||||
The Company reported net losses of $3,533 and $3,935, and net cash used in operating activities of $900 and $5,088 for the years ended December 31, 2014 and 2013, respectively, and had an accumulated deficit of $134,388 and $130,855 as of December 31, 2014 and 2013, respectively. | |||||
The Company believes that, taking into account the adoption of various cost-saving strategies, the anticipated positive impact of the Merger with TBO in March 2015, and anticipated improved cash flow from its ongoing operations, sufficient resources are expected to be available to fund the Company’s working capital and capital expenditure requirements, and to meet obligations and commitments as they become due over the following twelve months. Therefore, the accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the ordinary course of business. | |||||
Principles of consolidation | |||||
The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant transactions among the Company and its subsidiaries have been eliminated upon consolidation. | |||||
(b) Use of estimates | |||||
The preparation of consolidated financial statements in accordance with US GAAP requires the Company’s management to make estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include the allowance for doubtful receivables; useful lives and residual values of property and equipment and intangible assets; recoverability of the carrying amount of property and equipment, goodwill and intangible assets; fair values of financial instruments; and the assessment of contingent obligations. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates. | |||||
(c) Foreign currency transactions and translation | |||||
The Group’s reporting currency is the United States dollar (“US$”). The functional currency of the Company is the US$, whereas the functional currency of the Company’s consolidated subsidiaries in the PRC is the Renminbi (“RMB”) and the functional currency of the Company’s subsidiaries in the HKSAR is the Hong Kong Dollars (“HK$”), as the PRC and HKSAR are the primary economic environments in which the respective entities operate. Since the RMB is not a fully convertible currency, all foreign exchange transactions involving RMB must take place either through the People’s Bank of China (the “PBOC”) or other institutions authorized to buy and sell foreign currency. The exchange rates adopted for the foreign exchange transactions are the rates of exchange quoted by the PBOC. | |||||
Transactions denominated in currencies other than the functional currency are translated into the respective functional currency at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in a currency other than the functional currency are translated into the functional currency using the applicable exchange rate at each balance sheet date. The resulting exchange differences are recorded in “foreign currency transaction gain / (loss)” in the consolidated statements of operations. | |||||
The assets and liabilities of the Company’s consolidated subsidiaries are translated into the US$ reporting currency using the exchange rate at each balance sheet date. Revenue and expenses of these entities are translated into US$ at average rates prevailing during the year. Equity accounts are translated at historical exchange rates. Gains and losses resulting from translation of these entities’ financial statements into the US$ reporting currency are recorded as a separate component of “accumulated other comprehensive loss” within shareholders’ equity. | |||||
(d) Cash and cash equivalents | |||||
Cash and cash equivalents consist of cash on hand and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use. | |||||
The Group’s cash and bank deposits were held in major financial institutions located in PRC, which management believes have high credit ratings. Cash and bank deposits held in PRC as of December 31, 2014 and 2013 were $2,853 and $83, respectively. The remaining cash and bank deposits were held in US and Hong Kong denominated in USD and HKD, amounted to $1,325 and $5,522 as of December 31, 2014 and 2013, respectively. | |||||
Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash investments. The Company places its temporary cash instruments with well-known financial institutions within China, Hong Kong and the United States and, at times, may maintain balances in US banks in excess of the $250 US FDIC Insurance limit. The Company monitors the credit ratings of the financial institutions to mitigate this risk. | |||||
(e) Accounts receivable | |||||
Accounts receivable consist of amounts billed but not yet collected and unbilled receivables. Unbilled receivables relate to revenues earned and recognized, but which have not been billed by the Group in accordance with the terms of the advertising service contract. The payment terms of the Group’s service contracts with its customers vary and typically require an initial payment to be billed or paid at the commencement of the service period, progress payments to be billed during the service period, and a final payment to be billed after the completion of the service period. None of the Group’s accounts receivable bear interest. The allowance for doubtful accounts is management’s best estimate of the amount of probable credit losses in the Group’s existing accounts receivable. Management determines the allowance based on reviews of customer-specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. There are no allowance needs to be accrued for the years ended December 31, 2014 and 2013. The Group does not have any off-balance-sheet credit exposure related to its customers. | |||||
(f) Property and equipment | |||||
Property and equipment are stated at cost, net of accumulated depreciation or amortization. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets, taking into consideration the assets’ salvage or residual value. The estimated useful lives of property and equipment are as follows: | |||||
Leasehold improvements | 1 to 3 years | ||||
Advertising display equipment | 5 years | ||||
Furniture, fixtures and office equipment | 3 years | ||||
Vehicle | 5 years | ||||
We performed a periodic review of the reasonableness of the useful lives of our property and equipment. Effective on April 1, 2014, we changed the estimated useful lives of advertising display equipment from 3 years to 5 years to more closely reflect the economic lives of such assets. This change had the effect of reducing depreciation and amortization expense and decreasing both net loss and loss per share in our consolidated statement of operations as follows: | |||||
For the year ended | |||||
December 31, 2014 | |||||
Depreciation and amortization expense | $ | 178 | |||
Net loss | 178 | ||||
Loss per share – basic and diluted | $ | 0.02 | |||
When items of property and equipment are retired or otherwise disposed of, loss/income is charged or credited for the difference between the net book value and proceeds received thereon. Ordinary maintenance and repairs are charged to expense as incurred, and replacements and betterments are capitalized. | |||||
(g) Intangible assets | |||||
The Group’s intangible assets are amortized on a straight line basis over their respective estimated useful lives, which are the periods over which the assets are expected to contribute directly or indirectly to the future cash flows of the Group. The Group’s intangible assets represent lease agreements acquired in June 2013 which have estimated useful lives of 6 years. | |||||
(h) Impairment of long-lived assets | |||||
Indefinite-lived intangible assets are assessed for impairment at least annually based on comparisons of their respective fair values to their carrying values. Finite-lived intangible assets are amortized over their respective useful lives and, along with other long-lived assets, are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable in accordance with FASB ASC 360-10-15, “Impairment or Disposal of Long-Lived Assets”. | |||||
In evaluating long-lived assets for recoverability, including finite-lived intangibles and property and equipment, the Group uses its best estimate of future cash flows expected to result from the use of the asset and eventual disposition in accordance with FASB ASC 360-10-15. To the extent that estimated future, undiscounted cash inflows attributable to the asset, less estimated future, undiscounted cash outflows, are less than the carrying amount, an impairment loss is recognized in an amount equal to the difference between the carrying value of such asset and its fair value. Assets to be disposed of and for which there is a committed plan of disposal, whether through sale or abandonment, are reported at the lower of carrying value or fair value less costs to sell. | |||||
Asset recoverability is an area involving management judgment, requiring assessment as to whether the carrying value of assets can be supported by the undiscounted future cash flows. In calculating the future cash flows, certain assumptions are required to be made in respect of highly uncertain matters such as revenue growth rates, gross margin percentages and terminal growth rates. | |||||
No impairment loss once recognized is subsequently reversed even if facts and circumstances indicate recovery. | |||||
The Company tested the long-lived assets at the year end for impairment and no impairment was noted for the years ended December 31, 2014 and 2013. | |||||
(i) Fair Value of Financial Instruments | |||||
FASB ASC 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. | |||||
These tiers include: | |||||
• | Level 1 – defined as observable inputs such as quoted prices in active markets; | ||||
• | Level 2 – defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and | ||||
• | Level 3 – defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | ||||
The fair value of the Group’s financial assets and liabilities approximate their carrying amount because of the short-term maturity of these instruments. The Group’s options fall into Level 3 and there were no transfers in or out of Level 3 during the years presented. | |||||
(j) Revenue recognition | |||||
The Group recognizes advertising service revenue on the straight-line basis over the period in which the customer advertisement is to be displayed, which typically ranges from 3 days to over 1 year, starting from the date the Group first displays the advertisement. Written contracts are entered into between the Group and its customers to specify the price, the period and the location at which the advertisement is to be displayed. Revenue is only recognized if the collectability of the advertising service fee is probable. | |||||
The Group generates advertising service revenues from the sales of frame space on the poster frame network and advertising time slots on outdoor LCD networks. In the advertising arrangements, the Group acts as a principal in the transaction and records advertising revenues on a gross basis. The associated expenses are recorded as cost of revenues. | |||||
Customer payments received in excess of the amount of revenue recognized are recorded as deferred revenue in the consolidated balance sheets, and are recognized as revenue when the advertising services are rendered. | |||||
(k) Nonmonetary transactions | |||||
According to ASC 845-10-30, in general, the accounting for nonmonetary transactions should be based on the fair values of the assets (or services) involved, which is the same basis as that used in monetary transactions. Thus, the cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain it, and a gain or loss shall be recognized on the exchange. The fair value of the asset received shall be used to measure the cost if it is more clearly evident than the fair value of the asset surrendered. Similarly, a nonmonetary asset received in a nonreciprocal transfer shall be recorded at the fair value of the asset received. A transfer of a nonmonetary asset to a stockholder or to another entity in a nonreciprocal transfer will be recorded at the fair value of the asset transferred and a gain or loss shall be recognized on the disposition of the asset. | |||||
(l) Cost of revenues | |||||
Cost of revenues consists primarily of operating lease cost of advertising space for displaying advertisements, depreciation of advertising display equipment, amortization of intangible assets relating to lease agreements and direct staff and material costs associated with production and installation of advertising costs associated with production and installation of advertising content. | |||||
(m) Operating leases | |||||
The Group leases advertising space, including outdoor LCD and poster frames, and office premises under non-cancellable operating leases. The lease payments are charged to cost of revenues on the straight-line basis over the lease term. Under the terms of the lease agreements, the Group has no legal or contractual asset retirement obligation at the end of the lease. | |||||
(n) Advertising and promotion costs | |||||
Advertising and promotion costs are charged to operations as incurred. Advertising and promotion costs, mainly travel and entertainment expenses related to business development and sales commission, included in sales and marketing expenses amounted to $153 and $139 for the years ended December 31, 2014 and 2013, respectively. | |||||
(o) Retirement and other post-retirement benefits | |||||
Pursuant to relevant PRC regulations, the Company’s consolidated subsidiaries in the PRC are required to make contributions to various defined contribution retirement plans organized by the PRC government. The contributions are made for each qualifying PRC employee at 21% on a standard salary base as determined by the PRC governmental authority. Contributions to the defined contribution plans are charged to the consolidated statements of income as the related employee service is provided. | |||||
The Company’s subsidiaries in the HKSAR operate a Mandatory Provident Fund Scheme (“the MPF scheme”) under the Hong Kong Mandatory Provident Fund Schemes Ordinance for employees employed under the jurisdiction of the Hong Kong Employment Ordinance. The MPF scheme is a defined contribution retirement scheme administered by independent trustees. Under the MPF scheme, the employer is required to make contributions to the scheme at 5% of the employees’ relevant income, subject to an upper limit. Contributions to the scheme vest immediately. | |||||
The Group has no other obligation for the payment of employee benefits associated with these retirement plans beyond the contributions described above. | |||||
(p) Share-based payments | |||||
The Group accounts for share-based payments to employees in accordance with ASC Topic 718, “Compensation—Stock Compensation”. Under ASC 718, the Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the costs over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. For awards with performance conditions, the compensation expense is based on the grant-date fair value of the award, the number of shares ultimately expected to vest and the vesting period. | |||||
The Company accounts for share-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees”. Under ASC 505-50, share-based payment transactions with nonemployees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. For this specific option due to share purchase agreement, the fair value of the equity instruments issued in a share-based payment transaction with nonemployees is more reliably measurable than the fair value of the consideration received, the transaction shall be measured based on the fair value of the equity instruments issued by the Group. | |||||
(q) Income taxes | |||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in income in the period that the change in tax rates or laws is enacted. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. | |||||
The Group applies ASC Topic 740 “Income Taxes”. ASC 740 clarifies the accounting for uncertain tax positions. This interpretation requires that an entity recognizes in the consolidated financial statements the impact of a tax position, if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group’s accounting policy is to accrue interest and penalties related to uncertain tax positions, if and when required, as interest expense and a component of general and administrative expenses, respectively, in the consolidated statements of operations. | |||||
(r) Loss per share | |||||
Basic loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the year. Diluted earnings loss per share reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares and is calculated using the treasury stock method for stock options and unvested shares. Common equivalent shares for which the exercise price exceeds the average market price over the period have an anti-dilutive effect on loss per share and, accordingly, are excluded from the calculation. Common equivalent shares are also excluded from the calculation in loss periods as their effects would be anti-dilutive. | |||||
On March 19, 2015, Tiger Media effected a one-for-five reverse stock split (the “Reverse Spilt”). The principal effect of the Reverse Split was to decrease the number of outstanding shares of each of Tiger Media’s common shares. All per share amounts and shares outstanding for all the periods have been retroactively restated to reflect the Reverse Split. | |||||
(s) Contingencies | |||||
In the ordinary course of business, the Company is subject to loss contingencies that cover a wide range of matters. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In determining whether a loss should be accrued the Company evaluates, among other factors, the degree of probability and the ability to make a reasonable estimate of the amount of loss. | |||||
(t) Segment reporting | |||||
The Group has one operating segment as defined by ASC Topic 280, “Segment Reporting”. For the years ended December 31, 2014 and 2013, the Group’s advertising service revenues generated from customers outside the PRC is less than 10% of the Group’s total consolidated revenues. Consequently no geographic information is presented. | |||||
(u) Significant concentrations and risks | |||||
Concentration of Credit Risk | |||||
Assets that potentially subject the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, and accounts receivable. As of December 31, 2014 and 2013, substantially all of the Group’s cash and cash equivalents were deposited in financial institutions located in PRC, Hong Kong and US, which management believes are of high credit quality. Accounts receivable are typically unsecured and are derived from revenue earned from customers in the PRC. The risk with respect to accounts receivable is mitigated by credit evaluations the Group performs on its customers and its ongoing monitoring process of outstanding balances. | |||||
Concentration of Customers | |||||
The Company sold its media resources and recognized revenue from four major customers during the year ended December 31, 2014, accounting for 20%, 16%, 13% and 13% of the total sales, respectively. Four major customers accounted for 22%, 17%, 15% and 15% of the total sales respectively during the year ended December 31, 2013. | |||||
As of December 31, 2014, three advertising customers accounted for 39%, 38% and 11% of the Company’s accounts receivable. And as of December 31, 2013, four advertising customers accounted for 34%, 24%, 13% and 10% of the Company’s accounts receivable respectively. | |||||
Concentration of Suppliers | |||||
The Company purchased its advertising location from two major landlords during the year ended December 31, 2014, accounting for 13% and 11% of the total purchases. There were purchases from one major supplier which individually represent 13% of the total purchase during the year ended December 31, 2013. | |||||
(v) Recently issued accounting standards | |||||
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”.This Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. The core principle of the ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for these goods or services. For public entities, the Update is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect at the date of initial application. Early application is not permitted. The Company will be required to adopt ASU 2014-09 no later than the quarter beginning December 15, 2018, and the Company is currently evaluating the impact of adoption of this standard. | |||||
In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. This Update requires that an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). This Update is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company will be required to adopt ASU 2014-15 no later than the quarter beginning January 1, 2017, and does not expect that the adoption will have a material impact on the Company’s consolidated financial position and results of operations. | |||||
In January 2015, the FASB issued ASU 2015-01, “Income Statement-Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items”. This ASU eliminates from GAAP the concept of extraordinary items. Reporting entities will not have to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and may be applied prospectively or retrospectively. The Company will be required to adopt ASU 2015-01 no later than the quarter beginning January 1, 2016 and does not expect that this ASU will have a significant impact on its consolidated financial position and results of operations. | |||||
Except for the ASUs above, for the year ended December 31, 2014, the FASB has issued ASUs No. 2014-01 through ASU 2015-03, which are not expected to have a material impact on the consolidated financial statements upon adoption. |
Nonmonetary_transactions
Nonmonetary transactions | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Nonmonetary Transactions [Abstract] | ||||
Nonmonetary transactions | 3. Nonmonetary transactions | |||
In 2014, the Company entered into six advertising agreements with three human resources service providers, one bag manufacturing enterprise, one food company and one internet company, respectively, in 2014 to release the advertisements. The consideration of these contracts primarily consisted of professional recruitment and marketing services. According to management’s estimation, the fair value of the barter credits received was more clearly evident than the fair value of the barter transaction. For the year ended December 31, 2014, the Company recognized advertising issuance revenue of $175 generated from barter transactions and expensed barter credits received of $186. There was no gain or loss recognized on the transfer. | ||||
The Company entered into three barter transactions in 2013. | ||||
• | Barter transaction I. The Company entered into an advertising agreement with a shoe manufacturing enterprise to release the advertisement of its products in 42 LCD screens for two months with the frequency of 120 times a day. The consideration of the contract is the barter credits – 1,077 sheets of coupons for Spring & Summer shoes with the average market unit price of RMB 2,150 and 375 sheets for Autumn & Winter shoes with the average unit price of RMB 2,650. According to management’s estimation, the realized fair value of the barter credits received is more clearly evident than the fair value of the barter transaction. The sale arrangement was valued at $534. The Company recognized advertisement issuance revenue of $504 and capitalized barter credits received of $542 for the year ended December 31, 2013, and there was no financial impact for the year ended December 31, 2014. There was no gain or loss recognized on the transfer. | |||
• | Barter transaction II. In August 2013, the Company appointed a local communication company (the “Communication Company”) for the approval service of an additional 54 LCD advertising locations concession. The contract term was three years and the total amount was $492. As the settlement of this obligation, the Company and the Communication Company reached an agreement that the contract amount would be offset by part of the barter credits obtained from the sale described in “Barter Transaction I”. According to management’s estimation, the fair value of the barter credits were more clearly evident than the fair value of the barter transaction. The cost of the approval service was determined at $492. The Company settled the obligation incurred by concession approval of $492 and capitalized approval costs of $492. In 2014 and 2013, the Company amortized $169 and $58 to cost of revenue. The outstanding concession approval fee was $265 and $434 as of December 31, 2014 and 2013, respectively. There was no gain or loss recognized on the transfer. | |||
• | Barter transaction III. The Company entered into an agreement to release the advertisement in 99 LCD screens in 20 malls for two months with the frequency of 360 times a day. The contract amount was $492 and the consideration of the contract was the 5-year use right of a LED advertising screen, with the size of 3.42m*2.32m located just in front of Nanjing West Road entrance. According to management’s estimation, the market price of advertising time and spaces surrendered was more clearly evident than the fair value of the barter transaction. The exchange was valued at $492. In 2013, the Company recognized advertising service revenue $457 and amortized one month LED use right with the amount of $8 to cost of revenue. In 2014, the Company amortized the LED use right with the amount of $98 to the cost of revenue, and the outstanding balance was $386 and $484 as of December 31, 2014 and 2013, respectively. There was no gain or loss recognized on the transfer. |
Loss_per_share
Loss per share | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Loss per share | 4. Loss per share | ||||||||
Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the years ended December 31, 2014 and 2013. Diluted loss per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common shares or conversion of notes into shares of the Company’s common shares that could increase the number of shares outstanding and lower the earnings per share of the Company’s common shares. This calculation is not done for years in which a net loss was incurred as this would be antidilutive. The information related to basic and diluted loss per share is as follows: | |||||||||
2014 | 2013 | ||||||||
Numerator: | |||||||||
Net loss | $ | (3,533 | ) | $ | (3,935 | ) | |||
Denominator: | |||||||||
Weighted average shares outstanding - Basic and diluted(1) | 7,279,949 | 6,272,570 | |||||||
Loss per share(1): | |||||||||
Basic and diluted | $ | (0.49 | ) | $ | (0.63 | ) | |||
-1 | All per share amounts and shares outstanding for all periods have been retroactively restated to reflect Tiger Media’s 1-for-5 reverse stock split, which was effective on March 19, 2015. | ||||||||
Accounts_receivable
Accounts receivable | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Accounts receivable | 5. Accounts receivable | ||||||||
Accounts receivable consist of the following: | |||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Accounts receivable | $ | 1,742 | $ | 1,563 | |||||
Less allowance for doubtful accounts | — | — | |||||||
Total accounts receivable, net | $ | 1,742 | $ | 1,563 | |||||
As of December 31, 2014 and 2013, the Group’s accounts receivable include amounts earned and recognized as revenue of $963 and $1,503 but not yet billed (unbilled receivables), respectively. Management expects all unbilled receivables to be billed and collected within 12 months of the balance sheet date. There was no allowance needs to be accrued for the years ended December 31, 2014 and 2013, based on reviews of customer-specific facts and economic conditions. |
Prepaid_expenses_and_other_cur
Prepaid expenses and other current assets | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Text Block [Abstract] | |||||||||
Prepaid expenses and other current assets | 6. Prepaid expenses and other current assets | ||||||||
Prepaid expenses and other current assets consist of the following: | |||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Prepaid concession approval fees | $ | — | $ | 6 | |||||
Prepaid for procurement of advertising equipment | 6 | 65 | |||||||
Prepaid for rent of advertising spaces | 2 | 207 | |||||||
Rental deposits and other receivables | 257 | 521 | |||||||
Total prepaid expenses and other current assets | $ | 265 | $ | 799 | |||||
Property_and_equipment_net
Property and equipment, net | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and equipment, net | 7. Property and equipment, net | ||||||||
Property and equipment, net consist of the following: | |||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Advertising display equipment | $ | 1,939 | $ | 1,749 | |||||
Furniture, fixtures and office equipment | 23 | 17 | |||||||
Vehicles | 82 | — | |||||||
Total cost of property and equipment | 2,044 | 1,766 | |||||||
Less: accumulated depreciation and amortization | (542 | ) | (182 | ) | |||||
Property and equipment, net | $ | 1,502 | $ | 1,584 | |||||
Depreciation of property and equipment were allocated to the following categories of cost and expenses: | |||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Cost of revenues | $ | 348 | $ | 180 | |||||
Selling and marketing expenses | 4 | 1 | |||||||
General and administrative expenses | 14 | 1 | |||||||
Total depreciation and amortization | $ | 366 | $ | 182 | |||||
Longterm_deferred_expenses
Long-term deferred expenses | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||
Long-term deferred expenses | 8. Long-term deferred expenses | ||||||||||||
Long-term deferred expenses consist of the following: | |||||||||||||
Weighted average | As of December 31, | ||||||||||||
amortization period | 2014 | 2013 | |||||||||||
Rent of advertising spaces | 5 years | $ | 384 | $ | 484 | ||||||||
Concession approval fees | 3 years | 262 | 433 | ||||||||||
$ | 646 | $ | 917 | ||||||||||
The amortization of the long-term deferred expenses was allocated to the cost of revenues of $267 and $66 for the years ended December 31, 2014 and 2013, respectively. |
Intangible_assets_net
Intangible assets, net | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||
Intangible assets, net | 9. Intangible assets, net | ||||||||||||
Intangible assets other than goodwill consist of the following: | |||||||||||||
Weighted average | As of December 31, | ||||||||||||
amortization period | 2014 | 2013 | |||||||||||
Gross amount | |||||||||||||
Lease agreements | 6 years | $ | 2,200 | $ | 2,200 | ||||||||
Accumulated amortization | |||||||||||||
Lease agreements | (565 | ) | (199 | ) | |||||||||
Net intangible assets | |||||||||||||
Lease agreements | $ | 1,635 | $ | 2,001 | |||||||||
The intangible assets were acquired in June 2013 and the Group estimated the fair value of the intangible assets with the consideration of issuance of the Company’s share of common stock. The Group recorded amortization expense of $367 and $199 for the years ended December 31, 2014 and 2013, all of which were allocated to the cost of revenue. There was no impairment loss for the years ended December 31, 2014 and 2013. |
Acquisition_consideration_paya
Acquisition consideration payable | 12 Months Ended |
Dec. 31, 2014 | |
Text Block [Abstract] | |
Acquisition consideration payable | 10. Acquisition consideration payable |
During the years ended December 31, 2008 and 2010, the Group acquired respective advertising businesses. These acquisitions were unrelated to each other. | |
During the years ended December 31, 2011 and 2012, the Company terminated the VIEs arrangements and ceased to consolidate the financial results of the VIEs and its subsidiaries, the Company also divested certain subsidiaries. | |
In July 2013, the Company entered into a settlement agreement with the ex-owners of HK Ad-Icon, who agreed to extinguish the outstanding acquisition consideration payable at $99. | |
The outstanding acquisition consideration payable of $464 and $464 was payable in stock as of December 31, 2014 and 2013, respectively, to Shanghai Botang Advertising Co., Ltd. (“Shanghai Botang”), one of the acquired advertising entities. |
Accrued_expenses_and_other_pay
Accrued expenses and other payables | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accrued expenses and other payables | 11. Accrued expenses and other payables | ||||||||
Accrued expenses and other payables consist of the following: | |||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Accrued professional fees | $ | 492 | $ | 120 | |||||
Accrued payroll | 74 | 13 | |||||||
Surcharges payable | 72 | 82 | |||||||
Other current liabilities | 101 | 20 | |||||||
Total accrued expenses and other payables | $ | 739 | $ | 235 | |||||
Common_shares_and_warrants
Common shares and warrants | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Equity [Abstract] | ||||
Common shares and warrants | 12. Common shares and warrants | |||
Common shares(1) | ||||
As of December 31, 2014 and 2013, the number of issued and outstanding common shares was 7,291,200 and 7,120,148, respectively. The change of number of common shares during the year ended December 31, 2014 is as follows: | ||||
• | In January 2014, the Company issued 157,000 shares to its directors, senior management and consultant. | |||
• | In April 2014, the Company issued 4,052 shares to its senior management. | |||
• | In December 2014, the Company issued 10,000 shares to its directors. | |||
(1) | All shares outstanding for all periods reflect Tiger Media’s 1-for-5 reverse stock split, which was effective on March 19, 2015. | |||
Warrants | ||||
In December 2012, the Company offered warrant holders the right to exercise one-third of their warrants at a reduced exercise price of $6.25 per share. In addition, pursuant to the terms of the offer, on February 20, 2013, 708,720 Warrants held by participating holders, representing two times the number of warrants exercised by such holders, had their expiration date extended until December 26, 2013 and the exercise price of such warrants was reduced to $12.50 per share. Warrants not exercised or extended expired on February 19, 2013. | ||||
In December 2013, the Company offered its warrant holders the right to exercise their warrants at a reduced exercise price of $6.25 and a total of $4.1 million was raised from the exercise of Warrants to purchase 657,296 of the Company’s ordinary shares in December 2013. The remaining warrants not exercised expired on December 26, 2013. | ||||
As of December 31, 2014 and 2013, there were no outstanding warrants for the common shares. | ||||
All warrants for all periods have been retroactively restated to reflect Tiger Media’s 1-for-5 reverse stock split, which was effective on March 19, 2015. |
Sharebased_payments
Share-based payments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||
Share-based payments | 13. Share-based payments | ||||||||||||||||||||
Effective on January 1, 2008, the board of directors and shareholders of the SearchMedia International approved and adopted the 2008 Share Inventive Plan (the “Share Incentive Plan”) which provides for the granting of up to 359,299 share options and restricted share units to the eligible employees to subscribe for common shares of SearchMedia International. The granted share options and restricted share units were subsequently converted into SearchMedia Holdings’ share options and restricted share units on October 30, 2009 pursuant to the Share Exchange Agreements. | |||||||||||||||||||||
In August 2010, subject to shareholder approval which was received in September of 2011, the Board approved an increase of the number of authorized shares to be awarded under the Share Incentive Plan from 359,299 to 600,000 shares which may be granted to designated employees, directors and consultants of the Company. On December 14, 2012, shareholders approved an increase in the 2008 share incentive plan to 900,000 shares. On December 17, 2013, shareholders amended the Company’s Amended and Restated 2008 Share Incentive Plan by increasing the number of authorized common shares available for grant under the 2008 Plan from 900,000 common shares to 1,200,000 common shares. | |||||||||||||||||||||
All shares, including share options and restricted share units, specified in this note 13, share-based payments, for all periods reflect Tiger Media’s 1-for-5 reverse stock split, which was effective on March 19, 2015. | |||||||||||||||||||||
Share based compensation to employees | |||||||||||||||||||||
(a) Share options | |||||||||||||||||||||
Details of share options activity during the years ended December 31, 2014 and 2013 were as follows: | |||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | Aggregate | |||||||||||||||||
options | average | average | fair value | intrinsic value | |||||||||||||||||
exercise | remaining | ||||||||||||||||||||
price per | contractual | ||||||||||||||||||||
share | term | ||||||||||||||||||||
Balance as of December 31, 2012 | 327,105 | $ | 11.8 | 8.6 years | $ | 1,735 | $ | — | |||||||||||||
Granted | 67,000 | 7.45 | 308 | ||||||||||||||||||
Forfeited | (85,000 | ) | 9.4 | (347 | ) | ||||||||||||||||
Balance as of December 31, 2013 | 309,105 | 11.5 | 8.1 years | 1,696 | — | ||||||||||||||||
Forfeited | (32,105 | ) | 19.55 | (218 | ) | ||||||||||||||||
Balance as of December 31, 2014 | 277,000 | 10.6 | 7.2 years | 1,478 | — | ||||||||||||||||
Options exercisable at December 31, 2014 | 213,667 | $ | 11.71 | 7.0 years | $ | 1,200 | |||||||||||||||
The Company determined the estimated grant-date fair value of share options based on the Binomial Tree option-pricing model using the following assumptions: | |||||||||||||||||||||
2013* | |||||||||||||||||||||
Risk-free rate of return | 2.63 | % | |||||||||||||||||||
Weighted average expected option life | 10 years | ||||||||||||||||||||
Expected volatility rate | 95.26 | % | |||||||||||||||||||
Dividend yield | 0 | % | |||||||||||||||||||
* | No options were granted for the year ended December 31, 2014. | ||||||||||||||||||||
The expected volatility in the table above was based on the actual volatility of the Company’s common shares. | |||||||||||||||||||||
The Company has accounted for these options issued to employees in accordance with ASC Topic 718, “Compensation—Stock Compensation” , by measuring compensation cost based on the grant-date fair value and recognizing the cost over the period during which an employee is required to provide service in exchange for the award. | |||||||||||||||||||||
On March 4, 2013, 15,000 options, at exercise price at $5.10, to purchase the Company’s common shares of the Company were granted to a senior executive of the Company with the options vesting annually over a three-year period. The fair value of these options at grant date was $48. The options have been forfeited on the senior executive’s resignation on November 10, 2013. | |||||||||||||||||||||
On November 11, 2013, 35,000 options, at exercise price at $8.10, to purchase the Company’s common shares of the Company were granted to senior executives of the Company with the options vesting annually over a three-year period. The fair value of these options at grant date was $182. | |||||||||||||||||||||
On November 11, 2013, 17,000 options, at exercise price at $8.10, to purchase the Company’s common shares of the Company were granted to senior executives of the Company with the options vesting over a one-year period. The fair value of these options at grant date was $78. | |||||||||||||||||||||
25,000 options, at exercise price at $5.25, to purchase the Company’s common shares of the Company were granted to a senior executive of the Company with the options vesting annually over a three-year period on November 15, 2012, were forfeited on the senior executive’s resignation on March 8, 2013. | |||||||||||||||||||||
45,000 options, at exercise price at $13.10, to purchase the Company’s common shares of the Company, which was granted to a senior executive of the Company with the options vesting over a three-year period on January 4, 2010, were forfeited in 2013 because they were not exercised during the applicable term. | |||||||||||||||||||||
20,000 options, at exercise price at $8.25, to purchase the Company’s common shares of the Company, which was granted to a senior executive of the Company with the option vesting over a three-year period on March 27, 2012, were forfeited on March 17, 2014 because they were not exercised during the applicable term. | |||||||||||||||||||||
8,105 options, at exercise price at $39.40 with the vesting annually over a four-year period on January 2008, and 4,000 options, at exercise price at $35.70 with the vesting annually over a three-year period on January 2010, to purchase the Company’s common shares of the Company, which were both granted to a senior executive of the Company, were forfeited on the senior executive’s resignation on March 31, 2014. | |||||||||||||||||||||
The amounts of compensation cost recognized for these share options were $267 and $271 for the years ended December 31, 2014 and 2013, respectively, which were allocated to general and administrative expenses. As of December 31, 2014 and 2013, unrecognized share-based compensation cost in respect of granted share options amounted to $81 and $348, respectively. | |||||||||||||||||||||
(b) Restricted share units | |||||||||||||||||||||
Details of restricted share unit activity during the years ended December 31, 2014 and 2013 were as follows: | |||||||||||||||||||||
Number of | Grant-date | Weighted | |||||||||||||||||||
restricted | fair value | average | |||||||||||||||||||
share unit | remaining | ||||||||||||||||||||
Granted | contractual | ||||||||||||||||||||
term | |||||||||||||||||||||
Balance as of December 31, 2012 | 29,053 | $ | 200 | 9.45 years | |||||||||||||||||
Granted | 195,656 | 1,502 | |||||||||||||||||||
Exercised | (23,656 | ) | |||||||||||||||||||
Forfeited | (40,000 | ) | |||||||||||||||||||
Balance as of December 31, 2013 | 161,053 | 1,340 | 9.76 years | ||||||||||||||||||
Granted | 73,000 | 239 | |||||||||||||||||||
Exercised | (171,053 | ) | |||||||||||||||||||
Forfeited | (2,000 | ) | |||||||||||||||||||
Balance as of December 31, 2014 | 61,000 | 190 | 9.58 years | ||||||||||||||||||
Units vested as of December 31, 2014 | — | ||||||||||||||||||||
On March 4, 2013, 15,000 restricted share units were granted to a senior executive of the Company with the units vesting annually over a three-year period. The fair value of these units at grant date was $77. The restricted share units have been forfeited on the senior executive’s resignation on November 10, 2013. | |||||||||||||||||||||
On May 20, 2013, 7,356 restricted share units were granted to an employee of the Company with the units vesting. The fair value of these units at grant date was $38. | |||||||||||||||||||||
On November 11, 2013, 157,000 restricted share units were granted to our directors, senior executive, employee and consultant of the Company with the units vesting on January 2, 2014. The fair value of these units at grant date was $1,272. | |||||||||||||||||||||
On December 17, 2013, 6,300 restricted share units were granted to our directors with the units vesting. The fair value of these units at grant date was $40. | |||||||||||||||||||||
On December 31, 2013, 10,000 restricted share units were granted to a consultant of the Company with the units vesting. The fair value of these units at grant date was $75. | |||||||||||||||||||||
25,000 restricted share units, which were granted to a senior executive of the Company with the units vesting annually over a three-year period on November 15, 2012, were forfeited on the senior executive’s resignation on March 8, 2013. | |||||||||||||||||||||
On April 16, 2014, 3,000 restricted share units were granted to employees of the Company with the units vesting annually over a two-year period. The fair value of these units at grant date was $13. 2,000 restricted share units have been forfeited on the employee’s resignation in October 2014. | |||||||||||||||||||||
On August 1, 2014, 60,000 restricted share units were granted to a senior executive of the Company with the units vesting annually over a four-year period. The fair value of these units at grant date was $186. | |||||||||||||||||||||
On December 19, 2014, 10,000 restricted share units were granted to our directors with the units vesting immediately. The fair value of these units at grant date was $40. | |||||||||||||||||||||
The Group recognized compensation cost (included in general and administrative expenses in the consolidated statements of operations) for these restricted share units of $169 and $1,377 for the years ended December 31, 2014 and 2013, respectively. The fair value of the restricted share units was estimated using the market value of the common shares on the date of grant, which was equivalent to the closing price of our common share on the grant date. | |||||||||||||||||||||
As of December 31, 2014 and 2013, unrecognized share-based compensation cost in respect of granted restricted share units amounted to $147 and $48, respectively. |
Statutory_reserve
Statutory reserve | 12 Months Ended |
Dec. 31, 2014 | |
Text Block [Abstract] | |
Statutory reserve | 14. Statutory reserve |
The Group’s PRC consolidated subsidiaries are required under PRC laws to transfer at least 10% of their after tax profits as reported in their PRC statutory financial statements to a statutory surplus reserve. These entities are permitted to discontinue allocations to this reserve if the balance of such reserve has reached 50% of their respective registered capital. The transfer to this reserve must be made before distribution of dividends to equity shareholders. The statutory reserve is not available for distribution to the owners (except in liquidation) and may not be transferred in the form of loans, advances or cash dividends. For the years ended December 31, 2014 and 2013, the Group’s PRC consolidated subsidiaries made appropriations to the statutory reserve funds of $0 and $0, respectively. The accumulated balance of the statutory reserve funds maintained at these PRC consolidated subsidiaries as of December 31, 2014 and 2013 was $0 and $0, respectively. |
Income_taxes
Income taxes | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Income taxes | 15. Income taxes | ||||||||
Cayman Islands | |||||||||
Under the current laws of the Cayman Islands, the Company is not subject to tax on its income or capital gains. In addition, upon any payment of dividends by the Company, no withholding tax is imposed. | |||||||||
PRC | |||||||||
The Company’s consolidated subsidiaries in the PRC are governed by the income tax law of the PRC and file separate income tax returns. They are subject to PRC enterprise income tax at 25% on their taxable income. | |||||||||
Hong Kong | |||||||||
Subsidiaries reside in Hong Kong are subject to Hong Kong profits tax at a tax rate of 16.5% on their assessable profits. | |||||||||
The income tax benefit for the years ended December 31, 2014 and 2013 was $41 and $33, respectively. Income tax expense consists of the following: | |||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Current tax expense | |||||||||
- PRC | $ | — | $ | — | |||||
- HK | (4 | ) | 4 | ||||||
Deferred tax benefits | |||||||||
- PRC | (37 | ) | (37 | ) | |||||
- HK | — | — | |||||||
Income tax benefit | $ | (41 | ) | $ | (33 | ) | |||
The following table reconciles the Group’s effective tax for the years presented: | |||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Loss before tax | $ | (3,574 | ) | $ | (3,968 | ) | |||
Applicable tax rate | 25 | % | 25 | % | |||||
Computed expected tax benefit | (894 | ) | (992 | ) | |||||
Effect on HK entities subject to income tax 16.5% | (3 | ) | (2 | ) | |||||
Effect on other entities not subject to income tax | 653 | 959 | |||||||
Effect on non-deductible cost | 203 | 2 | |||||||
Income tax benefit | $ | (41 | ) | $ | (33 | ) | |||
Non-deductible cost primarily represents cost and expense recognized without invoice received and entertainment expenses in excess of statutory limits for tax purpose. | |||||||||
The tax effects of the Group’s temporary differences that give rise to significant portions of the deferred tax assets are as follows: | |||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Deferred tax assets-current: | |||||||||
- Tax loss carried forwards of a subsidiary | $ | 74 | $ | 37 | |||||
Tiger Yaoyang incurred a pretax loss of approximately $147 and $148 for the years ended December 31, 2014 and 2013, which resulted in the increase of net operating loss carried forward. The net operating loss carry forwards will expire if unused in the years ending December 31, 2019 and 2018, respectively. | |||||||||
For the years ended December 31, 2014 and 2013, the Group did not have unrecognized tax benefits, and it does not expect that the amount of unrecognized tax benefits will change significantly within the next 12 months. |
Related_party_transactions_and
Related party transactions and balances | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Related Party Transactions [Abstract] | |||||||||||||
Related party transactions and balances | 16. Related party transactions and balances | ||||||||||||
(a) Related party transactions | |||||||||||||
For the years ended December 31, 2014 and 2013, the Company entered into certain transactions with its related parties. Management believes that these related party transactions were conducted at normal commercial terms. For the years presented, material related party transactions are summarized as follows for the years ended December 31, 2014 and 2013: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
Note | 2014 | 2013 | |||||||||||
Costs of leases of advertising spaces | (i | ) | $ | 375 | $ | 166 | |||||||
Purchase of lease agreements | (ii | ) | $ | — | $ | 2,200 | |||||||
Notes: | |||||||||||||
(i) | Represents amounts paid / payable to an affiliated entity of Mr. Zhu (Chief Operating Officer of Tiger Yaoyang), for leases of advertising spaces and equipment electricity fee. The transactions are conducted on terms comparable to the terms of similar transactions with third parties. | ||||||||||||
(ii) | Represents 0.41 million Tiger Media common shares issued to acquire eight key lease agreements from an affiliated entity of Mr. Zhu. | ||||||||||||
(b) Amounts due from related parties | |||||||||||||
As of December 31, | |||||||||||||
Note | 2014 | 2013 | |||||||||||
Prepayment for leases of advertising space | (i | ) | $ | — | $ | 40 | |||||||
Note: | |||||||||||||
(i) | Represents prepayment to an affiliated entity of senior management personnel of the Company, for leases of advertising spaces. | ||||||||||||
(c) Amounts due to related parties | |||||||||||||
As of December 31, | |||||||||||||
Note | 2014 | 2013 | |||||||||||
Board member fee | (i | ) | $ | 10 | $ | 42 | |||||||
Compensation committee chairman fee | (ii | ) | 1 | 1 | |||||||||
Audit committee chairman fee | (iii | ) | 5 | 30 | |||||||||
Payables for the lease of advertising spaces | (iv | ) | 40 | — | |||||||||
Operating expenses paid on behalf of the Company | (v | ) | 9 | — | |||||||||
$ | 65 | $ | 73 | ||||||||||
Notes: | |||||||||||||
(i) | Represents board member fees due to certain board members of the Company. | ||||||||||||
(ii) | Represents compensation committee chairman fees to certain board members of the Company. | ||||||||||||
(iii) | Represents audit committee chairman fees to certain board members of the Company. | ||||||||||||
(iv) | Represents operating lease payments payable to an affiliated entity of Mr. Zhu, for leases of advertising spaces. | ||||||||||||
(v) | Represents operating expenses paid by an affiliated entity of Mr. Zhu. The amounts are interest free and unsecured. |
Employee_benefit_plans
Employee benefit plans | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee benefit plans | 17. Employee benefit plans |
Employees of the Company and its subsidiaries located in Hong Kong are covered by the Mandatory Provident Fund Scheme (“MPF Scheme”) established on December 1, 2000 under the Mandatory Provident Fund Scheme Ordinance of Hong Kong. The calculation of contributions for these eligible employees is based on 5% of the applicable payroll costs, and contributions are matched by the employees. The amounts paid by the Company to the MPF Scheme were $2 and $2 for the years ended December 31, 2014 and 2013, respectively. | |
Employees of the Company and its subsidiaries located in the PRC are covered by the retirement schemes defined by local practice and regulations, which are essentially defined contribution schemes. The contributed amounts are determined based on 21% and 22% of the applicable payroll costs in 2014 and 2013, respectively. Due to the adjustment of employee structure, the amounts paid by the Company to these defined contribution schemes were $67 and $308 for years ended December 31, 2014 and 2013, respectively. | |
In addition, the Company is required by law to contribute to medical insurance benefits, housing funds, unemployment, and other statutory benefits ranging from 1% to 10% of applicable salaries. The PRC government is directly responsible for the payment of the benefits to these employees. The amounts contributed for medical insurance benefits were $35 and $168 for the years ended December 31, 2014 and 2013, respectively. The amounts contributed for housing funds was $22 and $98 for the years ended December 31, 2014 and 2013, respectively. The amounts contributed for other benefits were $15 and $42 for the years ended December 31, 2014 and 2013, respectively. |
Commitments_and_contingencies
Commitments and contingencies | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and contingencies | 18. Commitments and contingencies | ||||
(a) Operating lease commitments | |||||
As of December 31, 2014, future minimum rental payments under non-cancellable operating leases having initial or remaining lease terms of more than one year are as follows: | |||||
Year | |||||
2015 | $ | 1,097 | |||
2016 | 548 | ||||
2017 | 283 | ||||
2018 | 214 | ||||
$ | 2,142 | ||||
(b) Capital commitments | |||||
As of December 31, 2014, material capital commitments under non-cancellable advertising equipment construction contracts is $142. | |||||
(c) Contingency | |||||
As of December 31, 2014, the Company prosecuted against one advertising display equipment vendor in PRC court, for economic compensation arising from vendor’s failure to meet the products’ standard quality. The Company believes it will prevail on the merits of the case. However, the economic compensation is not determined, and the Company has not recognized gain contingency. |
Subsequent_events
Subsequent events | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent events | 19. Subsequent events |
The Company has evaluated all events and transactions after December 31, 2014 through the date these consolidated financial statements were issued. The following material matters have occurred through April 15, 2015. | |
Acquisition of Intangible Assets in exchange for a 46% equity interest in Tiger Yaoyang | |
In January 2015, Tiger Shangda, which holds 100% equity interests in Tiger Yaoyang, and Shanghai CaiYiXian Advertising Co., Ltd. (“CaiYiXian”), which is owned by Mr. Zhu (Chief Operating Officer of Tiger Yaoyang), entered into an asset purchase agreement, pursuant to which, Tiger Shangda agreed to purchase the intangible assets of CaiYiXian comprising primarily of a direct interest in lease agreements with luxury shopping malls in Shanghai and a non-compete agreement (for a 10-year period), and CaiYiXian agreed to transfer these lease agreements, together with a non-compete agreement to Tiger Yaoyang in exchange for a 46% equity interest in Tiger Yaoyang after the transfer was effective on January 1, 2015. | |
As of January 22, 2015, the change of shareholding register of Tiger Yaoyang has been completed, and all related lease contracts with luxury shopping malls have been transferred to Tiger Yaoyang. Management estimates that intangible assets by about $1,990, non-controlling interest by about $515, and additional paid-in capital by about $862 will be recognized as of the effective date. | |
Reverse Stock Split and Domestication | |
Before the Merger on March 19, 2015, Tiger Media effected the Reverse Split. The principal effect of the Reverse Split was to decrease the number of outstanding shares of each of Tiger Media’s common shares. Except for de minimus adjustments that may have resulted from the treatment of fractional shares (fractional shares following the Reverse Split were rounded up to the nearest whole share), the Reverse Split did not have any dilutive effect on Tiger Media shareholders since each shareholder holds the same percentage of common shares outstanding immediately after the Reverse Split as such shareholder held immediately before the Reverse Split. The relative voting and other rights that accompany the common shares were not affected by the Reverse Split. In addition, the proportion of common shares owned by shareholders relative to the number of shares authorized for issuance remains the same because the authorized number of Tiger Media common shares were decreased in proportion to the Reverse Split. As a result, the number of common shares authorized decreased from 1,000,000,000 common shares to 200,000,000 common shares. The authorized number of preferred shares were not affected by the Reverse Split and remain at 10,000,000 preferred shares. | |
Also before the Merger, on March 20, 2015, Tiger Media completed its domestication from the Cayman Islands to Delaware, as a Delaware corporation (the “Domestication”). As a result of the Domestication, Tiger Media no longer qualifies as a “foreign private issuer” as that term is defined under the U.S. Federal securities laws. As such, Tiger Media will now file reports as a U.S. domestic reporting company under the U.S. Federal securities laws. | |
Completion of Merger with TBO | |
On March 21, 2015 (the “Effective Date”), Tiger Media Inc. (“Tiger Media”), and TBO Acquisition, LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of Tiger Media (the “Merger Sub”), completed its previously announced merger (the “Merger”) with The Best One, Inc. (“TBO”), pursuant to the terms and conditions of the Merger Agreement and Plan of Reorganization, as amended (the “Merger Agreement”) dated as of December 14, 2014, by and among Tiger Media, Merger Sub, TBO and Derek Dubner, solely in his capacity as representative of the TBO shareholders. Before the Merger, on October 2, 2014, TBO acquired 100% of the membership interests of Interactive Data, LLC, a Georgia limited liability company (“Interactive Data”), a data solutions provider. The Merger was consummated effective as of March 21, 2015, and management is currently evaluating the related accounting treatment to be applied to this acquisition. As a result, it is impractical to present any pro forma financial information at this time. | |
Following the Domestication and the Reverse Stock Split, on March 21, 2015, TBO merged into Merger Sub, with Merger Sub continuing as the surviving company and a wholly-owned subsidiary of Tiger Media. On the Effective Date, upon the consummation of the Merger: | |
(1) 4,016,846 shares of TBO common stock, no par value per share (“TBO Common Stock”) converted into 4,016,846 shares of Tiger Media common stock, par value $0.0005 per share (“Company Common Stock”); | |
(2) 8,000 shares of TBO Series A Convertible Preferred Stock, par value $0.001 per share (“TBO Series A Preferred Stock”) converted into 4,200,511 shares of Company’s Series A Non-Voting Convertible Preferred Stock, par value $0.0001 per share (“Company Preferred Stock”) at closing and 1,800,220 shares of Company Preferred Stock subject to an earn out; | |
(3) 1,019,600 shares of TBO Series B Convertible Preferred Stock, par value $0.001 per share (“TBO Series B Preferred Stock”) converted into 764,791 shares of Company Preferred Stock; | |
(4) 640,000 shares of TBO Series C Convertible Preferred Stock, par value $0.001 per share (“TBO Series C Preferred Stock”) converted into 480,057 shares of Company Common Stock; and | |
(5) 4,000 shares of TBO Series D Convertible Preferred Stock, par value $0.001 per share (“TBO Series D Preferred Stock”) converted into 2,100,252 shares of Company Common Stock at closing and 900,108 shares of Company Common Stock subject to an earn out. | |
Before the Merger, Marlin Capital Investments, LLC, which is managed by Michael Brauser, a founding shareholder of TBO, held RSUs representing the right to receive 2,000,000 shares of TBO Common Stock. Tiger Media assumed these RSUs upon closing and the RSUs represent the right to receive 2,000,000 shares of Tiger Media Common Stock. The RSUs vest annually beginning October 13, 2015 only if certain performance goals of Tiger Media are met. The shares underlying such RSUs will not be delivered until October 13, 2018, unless there is a change of control of Tiger Media. | |
In addition, 960,000 RSUs held by TBO employees were assumed by Tiger Media and represent the right to receive 960,000 shares of Tiger Media Common Stock, subject to vesting and delivery. | |
In addition, 28,000 outstanding TBO warrants were assumed upon closing and are exercisable for 28,000 shares of Tiger Media Common Stock. | |
On the Effective Date, certain founding shareholders of TBO entered into lock-up agreements providing that they may not sell or otherwise transfer any shares of Tiger Media or any other securities convertible into or exercisable or exchangeable for shares of Tiger Media that are beneficially owned and/or acquired by them (or underlying any security acquired by them) as of the date of the Merger Agreement or otherwise in connection with the Merger, subject to certain exceptions, for a period of 12 months after the Effective Date. | |
Assuming all Earn-out Shares are earned, all RSUs are vested and the underlying shares of common stock are delivered, and the warrant is exercised, up to an aggregate of 17,250,785 shares of Tiger Media Common Stock (on an as-converted basis) were or will be issued in connection with the Merger. | |
Grants of restricted share units | |
Under the 2008 Amended and Restated Share Incentive Plan (the “2008 Plan”), as adjusted for the Company’s 1-for-5 Reverse Stock Split which occurred after close of business on March 19, 2015, the Company granted restricted share units (“RSUs”) subsequent to December 31, 2014 as follows: | |
On January 28, 2015, the Tiger Media board of directors granted restricted share units (“RSUs”) totaling 355,800 shares to its executive officers and directors, which vest on the earlier of July 28, 2015 or an involuntary separation from service from Tiger Media other than for cause. | |
On March 28, 2015, the Tiger Media Compensation Committee granted 136,000 shares of RSUs to two non-employee directors, which vest in their entirety on the earlier of September 24, 2015, or the date of the Company’s next stockholders meeting where directors are elected and such director is not elected for a renewal term, and which grant shall be subject to a Restricted Stock Unit Agreement between the Company and the individual. | |
Subsequent Disputes | |
As of April 15, 2015, the Company is involved in a dispute with a landlord of advertising location. If the consequence of the dispute is adverse to the Company, it may lose the advertising place. Management believes that this will not adversely impact its revenue in future, as the Company has had a replacement to this advertising location. | |
The revenue generated in this advertising place in 2014 was $0.21 million. The Company believes that it is still too early to assess the potential outcome. |
Summary_of_significant_account1
Summary of significant accounting policies (Policies) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Accounting Policies [Abstract] | |||||
Basis of Preparation and Liquidity | (a) Basis of preparation and liquidity | ||||
The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). | |||||
The Company reported net losses of $3,533 and $3,935, and net cash used in operating activities of $900 and $5,088 for the years ended December 31, 2014 and 2013, respectively, and had an accumulated deficit of $134,388 and $130,855 as of December 31, 2014 and 2013, respectively. | |||||
The Company believes that, taking into account the adoption of various cost-saving strategies, the anticipated positive impact of the Merger with TBO in March 2015, and anticipated improved cash flow from its ongoing operations, sufficient resources are expected to be available to fund the Company’s working capital and capital expenditure requirements, and to meet obligations and commitments as they become due over the following twelve months. Therefore, the accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the ordinary course of business. | |||||
Principles of consolidation | |||||
The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant transactions among the Company and its subsidiaries have been eliminated upon consolidation. | |||||
Use of Estimates | (b) Use of estimates | ||||
The preparation of consolidated financial statements in accordance with US GAAP requires the Company’s management to make estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include the allowance for doubtful receivables; useful lives and residual values of property and equipment and intangible assets; recoverability of the carrying amount of property and equipment, goodwill and intangible assets; fair values of financial instruments; and the assessment of contingent obligations. These estimates are often based on complex judgments and assumptions that management believes to be reasonable but are inherently uncertain and unpredictable. Actual results could differ from these estimates. | |||||
Foreign Currency Transactions and Translation | (c) Foreign currency transactions and translation | ||||
The Group’s reporting currency is the United States dollar (“US$”). The functional currency of the Company is the US$, whereas the functional currency of the Company’s consolidated subsidiaries in the PRC is the Renminbi (“RMB”) and the functional currency of the Company’s subsidiaries in the HKSAR is the Hong Kong Dollars (“HK$”), as the PRC and HKSAR are the primary economic environments in which the respective entities operate. Since the RMB is not a fully convertible currency, all foreign exchange transactions involving RMB must take place either through the People’s Bank of China (the “PBOC”) or other institutions authorized to buy and sell foreign currency. The exchange rates adopted for the foreign exchange transactions are the rates of exchange quoted by the PBOC. | |||||
Transactions denominated in currencies other than the functional currency are translated into the respective functional currency at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in a currency other than the functional currency are translated into the functional currency using the applicable exchange rate at each balance sheet date. The resulting exchange differences are recorded in “foreign currency transaction gain / (loss)” in the consolidated statements of operations. | |||||
The assets and liabilities of the Company’s consolidated subsidiaries are translated into the US$ reporting currency using the exchange rate at each balance sheet date. Revenue and expenses of these entities are translated into US$ at average rates prevailing during the year. Equity accounts are translated at historical exchange rates. Gains and losses resulting from translation of these entities’ financial statements into the US$ reporting currency are recorded as a separate component of “accumulated other comprehensive loss” within shareholders’ equity. | |||||
Cash and Cash Equivalents | (d) Cash and cash equivalents | ||||
Cash and cash equivalents consist of cash on hand and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use. | |||||
The Group’s cash and bank deposits were held in major financial institutions located in PRC, which management believes have high credit ratings. Cash and bank deposits held in PRC as of December 31, 2014 and 2013 were $2,853 and $83, respectively. The remaining cash and bank deposits were held in US and Hong Kong denominated in USD and HKD, amounted to $1,325 and $5,522 as of December 31, 2014 and 2013, respectively. | |||||
Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash investments. The Company places its temporary cash instruments with well-known financial institutions within China, Hong Kong and the United States and, at times, may maintain balances in US banks in excess of the $250 US FDIC Insurance limit. The Company monitors the credit ratings of the financial institutions to mitigate this risk. | |||||
Accounts Receivable | (e) Accounts receivable | ||||
Accounts receivable consist of amounts billed but not yet collected and unbilled receivables. Unbilled receivables relate to revenues earned and recognized, but which have not been billed by the Group in accordance with the terms of the advertising service contract. The payment terms of the Group’s service contracts with its customers vary and typically require an initial payment to be billed or paid at the commencement of the service period, progress payments to be billed during the service period, and a final payment to be billed after the completion of the service period. None of the Group’s accounts receivable bear interest. The allowance for doubtful accounts is management’s best estimate of the amount of probable credit losses in the Group’s existing accounts receivable. Management determines the allowance based on reviews of customer-specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. There was no allowance needs to be accrued for the years ended December 31, 2014 and 2013. The Group does not have any off-balance-sheet credit exposure related to its customers. | |||||
Property and Equipment | (f) Property and equipment | ||||
Property and equipment are stated at cost, net of accumulated depreciation or amortization. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets, taking into consideration the assets’ salvage or residual value. The estimated useful lives of property and equipment are as follows: | |||||
Leasehold improvements | 1 to 3 years | ||||
Advertising display equipment | 5 years | ||||
Furniture, fixtures and office equipment | 3 years | ||||
Vehicle | 5 years | ||||
We performed a periodic review of the reasonableness of the useful lives of our property and equipment. Effective on April 1, 2014, we changed the estimated useful lives of advertising display equipment from 3 years to 5 years to more closely reflect the economic lives of such assets. This change had the effect of reducing depreciation and amortization expense and decreasing both net loss and loss per share in our consolidated statement of operations as follows: | |||||
For the year ended | |||||
December 31, 2014 | |||||
Depreciation and amortization expense | $ | 178 | |||
Net loss | 178 | ||||
Loss per share – basic and diluted | $ | 0.02 | |||
When items of property and equipment are retired or otherwise disposed of, loss/income is charged or credited for the difference between the net book value and proceeds received thereon. Ordinary maintenance and repairs are charged to expense as incurred, and replacements and betterments are capitalized. | |||||
Intangible Assets | (g) Intangible assets | ||||
The Group’s intangible assets are amortized on a straight line basis over their respective estimated useful lives, which are the periods over which the assets are expected to contribute directly or indirectly to the future cash flows of the Group. The Group’s intangible assets represent lease agreements acquired in June 2013 which have estimated useful lives of 6 years. | |||||
Impairment of Long-lived Assets | (h) Impairment of long-lived assets | ||||
Indefinite-lived intangible assets are assessed for impairment at least annually based on comparisons of their respective fair values to their carrying values. Finite-lived intangible assets are amortized over their respective useful lives and, along with other long-lived assets, are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable in accordance with FASB ASC 360-10-15, “Impairment or Disposal of Long-Lived Assets”. | |||||
In evaluating long-lived assets for recoverability, including finite-lived intangibles and property and equipment, the Group uses its best estimate of future cash flows expected to result from the use of the asset and eventual disposition in accordance with FASB ASC 360-10-15. To the extent that estimated future, undiscounted cash inflows attributable to the asset, less estimated future, undiscounted cash outflows, are less than the carrying amount, an impairment loss is recognized in an amount equal to the difference between the carrying value of such asset and its fair value. Assets to be disposed of and for which there is a committed plan of disposal, whether through sale or abandonment, are reported at the lower of carrying value or fair value less costs to sell. | |||||
Asset recoverability is an area involving management judgment, requiring assessment as to whether the carrying value of assets can be supported by the undiscounted future cash flows. In calculating the future cash flows, certain assumptions are required to be made in respect of highly uncertain matters such as revenue growth rates, gross margin percentages and terminal growth rates. | |||||
No impairment loss once recognized is subsequently reversed even if facts and circumstances indicate recovery. | |||||
The Company tested the long-lived assets at the year end for impairment and no impairment was noted for the years ended December 31, 2014 and 2013. | |||||
Fair Value of Financial Instruments | (i) Fair Value of Financial Instruments | ||||
FASB ASC 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. | |||||
These tiers include: | |||||
• | Level 1 – defined as observable inputs such as quoted prices in active markets; | ||||
• | Level 2 – defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and | ||||
• | Level 3 – defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | ||||
The fair value of the Group’s financial assets and liabilities approximate their carrying amount because of the short-term maturity of these instruments. The Group’s options fall into Level 3 and there were no transfers in or out of Level 3 during the years presented. | |||||
Revenue Recognition | (j) Revenue recognition | ||||
The Group recognizes advertising service revenue on the straight-line basis over the period in which the customer advertisement is to be displayed, which typically ranges from 3 days to over 1 year, starting from the date the Group first displays the advertisement. Written contracts are entered into between the Group and its customers to specify the price, the period and the location at which the advertisement is to be displayed. Revenue is only recognized if the collectability of the advertising service fee is probable. | |||||
The Group generates advertising service revenues from the sales of frame space on the poster frame network and advertising time slots on outdoor LCD networks. In the advertising arrangements, the Group acts as a principal in the transaction and records advertising revenues on a gross basis. The associated expenses are recorded as cost of revenues. | |||||
Customer payments received in excess of the amount of revenue recognized are recorded as deferred revenue in the consolidated balance sheets, and are recognized as revenue when the advertising services are rendered. | |||||
Nonmonetary Transactions | (k) Nonmonetary transactions | ||||
According to ASC 845-10-30, in general, the accounting for nonmonetary transactions should be based on the fair values of the assets (or services) involved, which is the same basis as that used in monetary transactions. Thus, the cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain it, and a gain or loss shall be recognized on the exchange. The fair value of the asset received shall be used to measure the cost if it is more clearly evident than the fair value of the asset surrendered. Similarly, a nonmonetary asset received in a nonreciprocal transfer shall be recorded at the fair value of the asset received. A transfer of a nonmonetary asset to a stockholder or to another entity in a nonreciprocal transfer will be recorded at the fair value of the asset transferred and a gain or loss shall be recognized on the disposition of the asset. | |||||
Cost of Revenues | (l) Cost of revenues | ||||
Cost of revenues consists primarily of operating lease cost of advertising space for displaying advertisements, depreciation of advertising display equipment, amortization of intangible assets relating to lease agreements and direct staff and material costs associated with production and installation of advertising costs associated with production and installation of advertising content. | |||||
Operating Leases | (m) Operating leases | ||||
The Group leases advertising space, including outdoor LCD and poster frames, and office premises under non-cancellable operating leases. The lease payments are charged to cost of revenues on the straight-line basis over the lease term. Under the terms of the lease agreements, the Group has no legal or contractual asset retirement obligation at the end of the lease. | |||||
Advertising and Promotion Costs | (n) Advertising and promotion costs | ||||
Advertising and promotion costs are charged to operations as incurred. Advertising and promotion costs, mainly travel and entertainment expenses related to business development and sales commission, included in sales and marketing expenses amounted to $153 and $139 for the years ended December 31, 2014 and 2013, respectively. | |||||
Retirement and Other Post-retirement Benefits | (o) Retirement and other post-retirement benefits | ||||
Pursuant to relevant PRC regulations, the Company’s consolidated subsidiaries in the PRC are required to make contributions to various defined contribution retirement plans organized by the PRC government. The contributions are made for each qualifying PRC employee at 21% on a standard salary base as determined by the PRC governmental authority. Contributions to the defined contribution plans are charged to the consolidated statements of income as the related employee service is provided. | |||||
The Company’s subsidiaries in the HKSAR operate a Mandatory Provident Fund Scheme (“the MPF scheme”) under the Hong Kong Mandatory Provident Fund Schemes Ordinance for employees employed under the jurisdiction of the Hong Kong Employment Ordinance. The MPF scheme is a defined contribution retirement scheme administered by independent trustees. Under the MPF scheme, the employer is required to make contributions to the scheme at 5% of the employees’ relevant income, subject to an upper limit. Contributions to the scheme vest immediately. | |||||
The Group has no other obligation for the payment of employee benefits associated with these retirement plans beyond the contributions described above. | |||||
Share-based Payments | (p) Share-based payments | ||||
The Group accounts for share-based payments to employees in accordance with ASC Topic 718, “Compensation—Stock Compensation”. Under ASC 718, the Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the costs over the period the employee is required to provide service in exchange for the award, which generally is the vesting period. For awards with performance conditions, the compensation expense is based on the grant-date fair value of the award, the number of shares ultimately expected to vest and the vesting period. | |||||
The Company accounts for share-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees”. Under ASC 505-50, share-based payment transactions with nonemployees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. For this specific option due to share purchase agreement, the fair value of the equity instruments issued in a share-based payment transaction with nonemployees is more reliably measurable than the fair value of the consideration received, the transaction shall be measured based on the fair value of the equity instruments issued by the Group. | |||||
Income Taxes | (q) Income taxes | ||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or laws is recognized in income in the period that the change in tax rates or laws is enacted. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. | |||||
The Group applies ASC Topic 740 “Income Taxes”. ASC 740 clarifies the accounting for uncertain tax positions. This interpretation requires that an entity recognizes in the consolidated financial statements the impact of a tax position, if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Group’s accounting policy is to accrue interest and penalties related to uncertain tax positions, if and when required, as interest expense and a component of general and administrative expenses, respectively, in the consolidated statements of operations. | |||||
Loss Per Share | (r) Loss per share | ||||
Basic loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the year. Diluted earnings loss per share reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares and is calculated using the treasury stock method for stock options and unvested shares. Common equivalent shares for which the exercise price exceeds the average market price over the period have an anti-dilutive effect on loss per share and, accordingly, are excluded from the calculation. Common equivalent shares are also excluded from the calculation in loss periods as their effects would be anti-dilutive. | |||||
On March 19, 2015, Tiger Media effected a one-for-five reverse stock split (the “Reverse Spilt”). The principal effect of the Reverse Split was to decrease the number of outstanding shares of each of Tiger Media’s common shares. All per share amounts and shares outstanding for all the periods have been retroactively restated to reflect the Reverse Split. | |||||
Contingencies | (s) Contingencies | ||||
In the ordinary course of business, the Company is subject to loss contingencies that cover a wide range of matters. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In determining whether a loss should be accrued the Company evaluates, among other factors, the degree of probability and the ability to make a reasonable estimate of the amount of loss. | |||||
Segment Reporting | (t) Segment reporting | ||||
The Group has one operating segment as defined by ASC Topic 280, “Segment Reporting”. For the years ended December 31, 2014 and 2013, the Group’s advertising service revenues generated from customers outside the PRC is less than 10% of the Group’s total consolidated revenues. Consequently no geographic information is presented. | |||||
Significant Concentrations and Risks | (u) Significant concentrations and risks | ||||
Concentration of Credit Risk | |||||
Assets that potentially subject the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, and accounts receivable. As of December 31, 2014 and 2013, substantially all of the Group’s cash and cash equivalents were deposited in financial institutions located in PRC, Hong Kong and US, which management believes are of high credit quality. Accounts receivable are typically unsecured and are derived from revenue earned from customers in the PRC. The risk with respect to accounts receivable is mitigated by credit evaluations the Group performs on its customers and its ongoing monitoring process of outstanding balances. | |||||
Concentration of Customers | |||||
The Company sold its media resources and recognized revenue from four major customers during the year ended December 31, 2014, accounting for 20%, 16%, 13% and 13% of the total sales, respectively. Four major customers accounted for 22%, 17%, 15% and 15% of the total sales respectively during the year ended December 31, 2013. | |||||
As of December 31, 2014, three advertising customers accounted for 39%, 38% and 11% of the Company’s accounts receivable. And as of December 31, 2013, four advertising customers accounted for 34%, 24%, 13% and 10% of the Company’s accounts receivable respectively. | |||||
Concentration of Suppliers | |||||
The Company purchased its advertising location from two major landlords during the year ended December 31, 2014, accounting for 13% and 11% of the total purchases. There were purchases from one major supplier which individually represent 13% of the total purchase during the year ended December 31, 2013. | |||||
Recently Issued Accounting Standards | (v) Recently issued accounting standards | ||||
In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”.This Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. The core principle of the ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for these goods or services. For public entities, the Update is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect at the date of initial application. Early application is not permitted. The Company will be required to adopt ASU 2014-09 no later than the quarter beginning January 1, 2018, and does not expect that the adoption of this standard will have a material impact on the Company’s consolidated financial position and results of operations. | |||||
In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. This Update requires that an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). This Update is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company will be required to adopt ASU 2014-15 no later than the quarter beginning January 1, 2017, and does not expect that the adoption will have a material impact on the Company’s consolidated financial position and results of operations. | |||||
In January 2015, the FASB issued ASU 2015-01, “Income Statement-Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items”. This ASU eliminates from GAAP the concept of extraordinary items. Reporting entities will not have to consider whether un underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and may be applied prospectively or retrospectively. The Company will be required to adopt ASU 2015-01 no later than the quarter beginning January 1, 2016 and does not expect that this ASU will have a significant impact on its consolidated financial position and results of operations. | |||||
Except for the ASUs above, for the year ended December 31, 2014, the FASB has issued ASUs No. 2014-01 through ASU 2015-03, which are not expected to have a material impact on the consolidated financial statements upon adoption. |
Summary_of_significant_account2
Summary of significant accounting policies (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Accounting Policies [Abstract] | |||||
Estimated Useful Lives of Property and Equipment | (f) Property and equipment | ||||
The estimated useful lives of property and equipment are as follows: | |||||
Leasehold improvements | 1 to 3 years | ||||
Advertisement display equipment | 5 years | ||||
Furniture, fixtures and office equipment | 3 years | ||||
Vehicle | 5 years | ||||
Effect Of Change in Estimate On Per Share [Table Text Block] | (f) Property and equipment | ||||
This change had the effect of reducing depreciation and amortization expense and decreasing both net loss and loss per share in our consolidated statement of operations as follows: | |||||
For the year ended | |||||
December 31, 2014 | |||||
Depreciation and amortization expense | $ | 178 | |||
Net loss | 178 | ||||
Loss per share – basic and diluted | $ | 0.02 | |||
Loss_per_share_Tables
Loss per share (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Schedule of Basic and Diluted Earnings Per Share | The information related to basic and diluted loss per share is as follows: | ||||||||
2014 | 2013 | ||||||||
Numerator: | |||||||||
Net loss | $ | (3,533 | ) | $ | (3,935 | ) | |||
Denominator: | |||||||||
Weighted average shares outstanding - Basic and diluted(1) | 7,279,949 | 6,272,570 | |||||||
Loss per share(1): | |||||||||
Basic and diluted | $ | (0.49 | ) | $ | (0.63 | ) | |||
-1 | All per share amounts and shares outstanding for all periods have been retroactively restated to reflect Tiger Media’s 1-for-5 reverse stock split, which was effective on March 19, 2015. |
Accounts_receivable_Tables
Accounts receivable (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Receivables [Abstract] | |||||||||
Accounts Receivable, Net | Accounts receivable consist of the following: | ||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Accounts receivable | $ | 1,742 | $ | 1,563 | |||||
Less allowance for doubtful accounts | — | — | |||||||
Total accounts receivable, net | $ | 1,742 | $ | 1,563 | |||||
Prepaid_expenses_and_other_cur1
Prepaid expenses and other current assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Text Block [Abstract] | |||||||||
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following: | ||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Prepaid concession approval fees | $ | — | $ | 6 | |||||
Prepaid for procurement of advertising equipment | 6 | 65 | |||||||
Prepaid for rent of advertising spaces | 2 | 207 | |||||||
Rental deposits and other receivables | 257 | 521 | |||||||
Total prepaid expenses and other current assets | $ | 265 | $ | 799 | |||||
Property_and_equipment_net_Tab
Property and equipment, net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment, Net | Property and equipment, net consist of the following: | ||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Advertising display equipment | $ | 1,939 | $ | 1,749 | |||||
Furniture, fixtures and office equipment | 23 | 17 | |||||||
Vehicles | 82 | — | |||||||
Total cost of property and equipment | 2,044 | 1,766 | |||||||
Less: accumulated depreciation and amortization | (542 | ) | (182 | ) | |||||
Property and equipment, net | $ | 1,502 | $ | 1,584 | |||||
Depreciation Allocation Categories of Cost and Expenses | Depreciation of property and equipment were allocated to the following categories of cost and expenses: | ||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Cost of revenues | $ | 348 | $ | 180 | |||||
Selling and marketing expenses | 4 | 1 | |||||||
General and administrative expenses | 14 | 1 | |||||||
Total depreciation and amortization | $ | 366 | $ | 182 | |||||
Longterm_deferred_expenses_Tab
Long-term deferred expenses (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||
Summary of Long-Term Deferred Expenses | Long-term deferred expenses consist of the following: | ||||||||||||
Weighted average | As of December 31, | ||||||||||||
amortization period | 2014 | 2013 | |||||||||||
Rent of advertising spaces | 5 years | $ | 384 | $ | 484 | ||||||||
Concession approval fees | 3 years | 262 | 433 | ||||||||||
$ | 646 | $ | 917 | ||||||||||
Intangible_assets_net_Tables
Intangible assets, net (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||
Intangible Assets Other than Goodwill | Intangible assets other than goodwill consist of the following: | ||||||||||||
Weighted average | As of December 31, | ||||||||||||
amortization period | 2014 | 2013 | |||||||||||
Gross amount | |||||||||||||
Lease agreements | 6 years | $ | 2,200 | $ | 2,200 | ||||||||
Accumulated amortization | |||||||||||||
Lease agreements | (565 | ) | (199 | ) | |||||||||
Net intangible assets | |||||||||||||
Lease agreements | $ | 1,635 | $ | 2,001 | |||||||||
Accrued_expenses_and_other_pay1
Accrued expenses and other payables (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Schedule of Accrued Expenses and Other Payables | Accrued expenses and other payables consist of the following: | ||||||||
As of December 31, | |||||||||
2014 | 2013 | ||||||||
Accrued professional fees | $ | 492 | $ | 120 | |||||
Accrued payroll | 74 | 13 | |||||||
Surcharges payable | 72 | 82 | |||||||
Other current liabilities | 101 | 20 | |||||||
Total accrued expenses and other payables | $ | 739 | $ | 235 | |||||
Sharebased_payments_Tables
Share-based payments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||
Schedule of Share Options Activity | Details of share options activity during the years ended December 31, 2014 and 2013 were as follows: | ||||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | Aggregate | |||||||||||||||||
options | average | average | fair value | intrinsic value | |||||||||||||||||
exercise | remaining | ||||||||||||||||||||
price per | contractual | ||||||||||||||||||||
share | term | ||||||||||||||||||||
Balance as of December 31, 2012 | 327,105 | $ | 11.8 | 8.6 years | $ | 1,735 | $ | — | |||||||||||||
Granted | 67,000 | 7.45 | 308 | ||||||||||||||||||
Forfeited | (85,000 | ) | 9.4 | (347 | ) | ||||||||||||||||
Balance as of December 31, 2013 | 309,105 | 11.5 | 8.1 years | 1,696 | — | ||||||||||||||||
Forfeited | (32,105 | ) | 19.55 | (218 | ) | ||||||||||||||||
Balance as of December 31, 2014 | 277,000 | 10.6 | 7.2 years | 1,478 | — | ||||||||||||||||
Options exercisable at December 31, 2014 | 213,667 | $ | 11.71 | 7.0 years | $ | 1,200 | |||||||||||||||
Schedule of Estimated Grant Date Fair Value of Share Options, Using Binomial Tree Option Pricing Model | The Company determined the estimated grant-date fair value of share options based on the Binomial Tree option-pricing model using the following assumptions: | ||||||||||||||||||||
2013* | |||||||||||||||||||||
Risk-free rate of return | 2.63 | % | |||||||||||||||||||
Weighted average expected option life | 10 years | ||||||||||||||||||||
Expected volatility rate | 95.26 | % | |||||||||||||||||||
Dividend yield | 0 | % | |||||||||||||||||||
* | No options were granted for the year ended December 31, 2014. | ||||||||||||||||||||
Schedule of Restricted Share Units Activity | Details of restricted share unit activity during the years ended December 31, 2014 and 2013 were as follows: | ||||||||||||||||||||
Number of | Grant-date | Weighted | |||||||||||||||||||
restricted | fair value | average | |||||||||||||||||||
share unit | remaining | ||||||||||||||||||||
Granted | contractual | ||||||||||||||||||||
term | |||||||||||||||||||||
Balance as of December 31, 2012 | 29,053 | $ | 200 | 9.45 years | |||||||||||||||||
Granted | 195,656 | 1,502 | |||||||||||||||||||
Exercised | (23,656 | ) | |||||||||||||||||||
Forfeited | (40,000 | ) | |||||||||||||||||||
Balance as of December 31, 2013 | 161,053 | 1,340 | 9.76 years | ||||||||||||||||||
Granted | 73,000 | 239 | |||||||||||||||||||
Exercised | (171,053 | ) | |||||||||||||||||||
Forfeited | (2,000 | ) | |||||||||||||||||||
Balance as of December 31, 2014 | 61,000 | 190 | 9.58 years | ||||||||||||||||||
Units vested as of December 31, 2014 | — | ||||||||||||||||||||
Income_taxes_Tables
Income taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Components of Income Tax Expense | Income tax expense consists of the following: | ||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Current tax expense | |||||||||
- PRC | $ | — | $ | — | |||||
- HK | (4 | ) | 4 | ||||||
Deferred tax benefits | |||||||||
- PRC | (37 | ) | (37 | ) | |||||
- HK | — | — | |||||||
Income tax benefit | $ | (41 | ) | $ | (33 | ) | |||
Reconciliation of Effective Tax | The following table reconciles the Group’s effective tax for the years presented: | ||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Loss before tax | $ | (3,574 | ) | $ | (3,968 | ) | |||
Applicable tax rate | 25 | % | 25 | % | |||||
Computed expected tax benefit | (894 | ) | (992 | ) | |||||
Effect on HK entities subject to income tax 16.5% | (3 | ) | (2 | ) | |||||
Effect on other entities not subject to income tax | 653 | 959 | |||||||
Effect on non-deductible cost | 203 | 2 | |||||||
Income tax benefit | $ | (41 | ) | $ | (33 | ) | |||
Tax Effects of Temporary Differences that Give Rise to Significant Portions of the Deferred Tax Assets | The tax effects of the Group’s temporary differences that give rise to significant portions of the deferred tax assets are as follows: | ||||||||
For the Years Ended December 31, | |||||||||
2014 | 2013 | ||||||||
Deferred tax assets-current: | |||||||||
- Tax loss carried forwards of a subsidiary | $ | 74 | $ | 37 | |||||
Related_party_transactions_and1
Related party transactions and balances (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Related Party Transactions [Abstract] | |||||||||||||
Summary of Related Party Transactions | (a) Related party transactions | ||||||||||||
For the years ended December 31, 2014 and 2013, the Company entered into certain transactions with its related parties. Management believes that these related party transactions were conducted at normal commercial terms. For the years presented, material related party transactions are summarized as follows for the years ended December 31, 2014 and 2013: | |||||||||||||
For the Years Ended December 31, | |||||||||||||
Note | 2014 | 2013 | |||||||||||
Costs of leases of advertising spaces | (i | ) | $ | 375 | $ | 166 | |||||||
Purchase of lease agreements | (ii | ) | $ | — | $ | 2,200 | |||||||
Notes: | |||||||||||||
(i) | Represents amounts paid / payable to an affiliated entity of Mr. Zhu (Chief Operating Officer of Tiger Yaoyang), for leases of advertising spaces and equipment electricity fee. The transactions are conducted on terms comparable to the terms of similar transactions with third parties. | ||||||||||||
(ii) | Represents 0.41 million Tiger Media common shares issued to acquire eight key lease agreements from an affiliated entity of Mr. Zhu. | ||||||||||||
Schedule of Amounts Due from Related Parties | (b) Amounts due from related parties | ||||||||||||
As of December 31, | |||||||||||||
Note | 2014 | 2013 | |||||||||||
Prepayment for leases of advertising space | (i | ) | $ | — | $ | 40 | |||||||
Note: | |||||||||||||
(i) | Represents prepayment to an affiliated entity of senior management personnel of the Company, for leases of advertising spaces. | ||||||||||||
Schedule of Amounts Due to Related Parties | (c) Amounts due to related parties | ||||||||||||
As of December 31, | |||||||||||||
Note | 2014 | 2013 | |||||||||||
Board member fee | (i | ) | $ | 10 | $ | 42 | |||||||
Compensation committee chairman fee | (ii | ) | 1 | 1 | |||||||||
Audit committee chairman fee | (iii | ) | 5 | 30 | |||||||||
Payables for the lease of advertising spaces | (iv | ) | 40 | — | |||||||||
Operating expenses paid on behalf of the Company | (v | ) | 9 | — | |||||||||
$ | 65 | $ | 73 | ||||||||||
Notes: | |||||||||||||
(i) | Represents board member fees due to certain board members of the Company. | ||||||||||||
(ii) | Represents compensation committee chairman fees to certain board members of the Company. | ||||||||||||
(iii) | Represents audit committee chairman fees to certain board members of the Company. | ||||||||||||
(iv) | Represents operating lease payments payable to an affiliated entity of Mr. Zhu, for leases of advertising spaces. | ||||||||||||
(v) | Represents operating expenses paid by an affiliated entity of Mr. Zhu. The amounts are interest free and unsecured. |
Commitments_and_contingencies_
Commitments and contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Future Minimum Rental Payments under Noncancelable Operating Leases | As of December 31, 2014, future minimum rental payments under non-cancellable operating leases having initial or remaining lease terms of more than one year are as follows: | ||||
Year | |||||
2015 | $ | 1,097 | |||
2016 | 548 | ||||
2017 | 283 | ||||
2018 | 214 | ||||
$ | 2,142 | ||||
Recovered_Sheet1
Principal Activities and Organization - Additional Information (Detail) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Nov. 30, 2012 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | |
Subsidiaries | Subsidiaries | ||||
Organization And Principal Business [Line Items] | |||||
Effective date of merger | 21-Mar-15 | ||||
Establishment date of subsidiary | 11-Dec-14 | ||||
Merger agreement date | 14-Dec-14 | ||||
Number of subsidiaries | 3 | ||||
Shanghai Tiger Shangda [Member] | |||||
Organization And Principal Business [Line Items] | |||||
Equity interests | 100.00% | ||||
Zhejiang Continental [Member] | |||||
Organization And Principal Business [Line Items] | |||||
Equity interests | 100.00% | ||||
HK Ad-Icon [Member] | |||||
Organization And Principal Business [Line Items] | |||||
Equity interests | 100.00% | ||||
Jingli [Member] | |||||
Organization And Principal Business [Line Items] | |||||
Number of subsidiaries | 5 | 5 | |||
Best One Inc [Member] | |||||
Organization And Principal Business [Line Items] | |||||
Equity interests | 100.00% |
Recovered_Sheet2
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 19, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Apr. 01, 2014 | Dec. 31, 2014 | Apr. 01, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | |
USD ($) | USD ($) | Minimum [Member] | Maximum [Member] | Peoples' Republic of China [Member] | Peoples' Republic of China [Member] | United States and Hong Kong [Member] | United States and Hong Kong [Member] | Subsequent Event [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Advertising Display Equipment [Member] | Advertising Display Equipment [Member] | Scenario, Previously Reported [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Supplier Concentration Risk [Member] | Supplier Concentration Risk [Member] | Supplier Concentration Risk [Member] | |
Segment | USD ($) | USD ($) | USD ($) | HKD | Customer | Customer | Customer | Customer | Advertising Display Equipment [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Property, Plant and Equipment [Member] | Property, Plant and Equipment [Member] | Property, Plant and Equipment [Member] | |||||||
Customers Outside China [Member] | Customers Outside China [Member] | Customer One [Member] | Customer One [Member] | Customer Two [Member] | Customer Two [Member] | Customer Three [Member] | Customer Three [Member] | Customer Four [Member] | Customer Four [Member] | Customer One [Member] | Customer One [Member] | Customer Two [Member] | Customer Two [Member] | Customer Three [Member] | Customer Three [Member] | Customer Four [Member] | Supplier | Supplier | Maximum [Member] | |||||||||||||||||
Maximum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||||||||||||||||||||||||||||||
Net losses | ($3,533,000) | ($3,935,000) | ||||||||||||||||||||||||||||||||||
Net cash used in operating activity | -900,000 | -5,088,000 | ||||||||||||||||||||||||||||||||||
Cash and cash equivalents | 4,178,000 | |||||||||||||||||||||||||||||||||||
Accumulated deficit | -134,388,000 | -130,855,000 | ||||||||||||||||||||||||||||||||||
Cash and bank deposits | 2,853,000 | 83,000 | 1,325,000 | 5,522,000 | ||||||||||||||||||||||||||||||||
FDIC Insurance limit | 250,000 | |||||||||||||||||||||||||||||||||||
Accounts receivable allowances accrued | 0 | 0 | ||||||||||||||||||||||||||||||||||
Estimated life of property and equipment | 5 years | 5 years | 3 years | |||||||||||||||||||||||||||||||||
Estimated useful life of intangible assets | 6 years | |||||||||||||||||||||||||||||||||||
Advertising service revenue recognition period | 3 days | 1 year | ||||||||||||||||||||||||||||||||||
Advertising and promotion costs | $153,000 | $139,000 | ||||||||||||||||||||||||||||||||||
Contributions to PRC employee | 21.00% | |||||||||||||||||||||||||||||||||||
Employer contribution | 5.00% | |||||||||||||||||||||||||||||||||||
Recognized income tax positions | 50.00% | |||||||||||||||||||||||||||||||||||
Reverse stock split ratio | 0.2 | 0.2 | 0.2 | |||||||||||||||||||||||||||||||||
Reverse stock split description | 1-for-5 | 1-for-5 | 1-for-5 | |||||||||||||||||||||||||||||||||
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 | 19-Mar-15 | |||||||||||||||||||||||||||||||||
Concentration risk | 10.00% | 10.00% | 20.00% | 22.00% | 16.00% | 17.00% | 13.00% | 15.00% | 13.00% | 15.00% | 39.00% | 34.00% | 38.00% | 24.00% | 11.00% | 13.00% | 10.00% | 11.00% | 13.00% | 13.00% | ||||||||||||||||
Operating segments | 1 | |||||||||||||||||||||||||||||||||||
Major customers | 4 | 4 | 3 | 4 | ||||||||||||||||||||||||||||||||
Number of major suppliers | 2 | 1 |
Recovered_Sheet3
Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Detail) (USD $) | 12 Months Ended | 0 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | Apr. 01, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Net loss | ($3,533,000) | ($3,935,000) | |
Loss per share - basic and diluted | ($0.49) | ($0.63) | |
Effect of Change Estimated Useful Lives [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization expense | 178 | ||
Net loss | $178 | ||
Loss per share - basic and diluted | $0.02 | ||
Leasehold Improvements [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated life of property and equipment | 1 year | ||
Leasehold Improvements [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated life of property and equipment | 3 years | ||
Advertising Display Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated life of property and equipment | 5 years | 5 years | |
Furniture, fixtures and office equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated life of property and equipment | 3 years | ||
Vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated life of property and equipment | 5 years |
Nonmonetary_Transactions_Addit
Nonmonetary Transactions - Additional Information (Detail) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
USD ($) | USD ($) | Advertising Barter Transaction One [Member] | Advertising Barter Transaction One [Member] | Advertising Barter Transaction One [Member] | Advertising Barter Transaction Two [Member] | Advertising Barter Transaction Two [Member] | Advertising Barter Transaction Two [Member] | Advertising Barter Transaction Three [Member] | Advertising Barter Transaction Three [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||
Sheet | ||||||||||
Nonmonetary Transaction [Line Items] | ||||||||||
Advertising issuance revenue on barter transactions | $175,000 | |||||||||
Barter credits received | 186,000 | |||||||||
Gain or loss on barter transactions | 0 | 534,000 | 0 | 492,000 | 0 | 492,000 | 0 | |||
Nonmonetary transaction, agreement period | 2 months | 2 months | 3 years | 2 months | ||||||
Number of sheets of coupons for spring and summer shoes | 1,077 | 1,077 | ||||||||
Average market unit price of Spring & Summer shoes | 2,150 | 2,150 | ||||||||
Number of sheets of coupons for Autumn & Winter shoes | 375 | 375 | ||||||||
Average market unit price of Autumn & Winter shoes | 2,650 | 2,650 | ||||||||
Nonmonetary transaction revenue recognized | 504,000 | 457,000 | ||||||||
Capitalized barter credits | 542,000 | |||||||||
Nonmonetary transaction, gain (loss) recognized on transfer | 0 | 0 | 0 | |||||||
Nonmonetary transaction description | The Company entered into an advertising agreement with a shoe manufacturing enterprise to release the advertisement of its products in 42 LCD screens for two months with the frequency of 120 times a day. | The Company entered into an advertising agreement with a shoe manufacturing enterprise to release the advertisement of its products in 42 LCD screens for two months with the frequency of 120 times a day. | In August 2013, the Company appointed a local communication company (the "Communication Company") for the approval service of an additional 54 LCD advertising locations concession | The Company entered into an agreement to release the advertisement in 99 LCD screens in 20 malls for two months with the frequency of 360 times a day | ||||||
Cost of approval service | 492,000 | |||||||||
Capitalized approval costs | 492,000 | |||||||||
Capitalized approval costs, amortization period | 4 months | |||||||||
Capitalized approval costs, amortized to cost of sales | 169,000 | 58,000 | 98,000 | |||||||
Prepaid concession approval fees | 6,000 | 265,000 | 434,000 | |||||||
Period of right to use LED advertising screen | 5 years | |||||||||
Amortized period of right to use LED advertising screen | 1 month | |||||||||
LED use right amortized to cost of sales | 8,000 | |||||||||
Cost of revenue, outstanding | $386,000 | $484,000 |
Loss_Per_Share_Schedule_of_Bas
Loss Per Share - Schedule of Basic and Diluted Earnings Per Share (Detail) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Earnings Per Share [Abstract] | ||
Net loss | ($3,533) | ($3,935) |
Weighted average shares outstanding - Basic and diluted | 7,279,949 | 6,272,570 |
Basic and Diluted | ($0.49) | ($0.63) |
Loss_Per_Share_Schedule_of_Bas1
Loss Per Share - Schedule of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | ||
Reverse stock split ratio | 0.2 | 0.2 |
Reverse stock split description | 1-for-5 | 1-for-5 |
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 |
Accounts_Receivable_Accounts_R
Accounts Receivable - Accounts Receivable (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ||
Accounts receivable | $1,742 | $1,563 |
Less allowance for doubtful accounts | 0 | 0 |
Total accounts receivable, net | $1,742 | $1,563 |
Accounts_Receivable_Additional
Accounts Receivable - Additional Information (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Receivables [Abstract] | ||
Unbilled receivables | $963,000 | $1,503,000 |
Accounts receivable allowances accrued | $0 | $0 |
Recovered_Sheet4
Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid concession approval fees | $6 | |
Prepaid for procurement of advertising equipment | 6 | 65 |
Prepaid for rent of advertising spaces | 2 | 207 |
Rental deposits and other receivables | 257 | 521 |
Total prepaid expenses and other current assets | $265 | $799 |
Property_and_Equipment_Net_Pro
Property and Equipment, Net - Property and Equipment, Net (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Total cost of property and equipment | $2,044 | $1,766 |
Less: accumulated depreciation and amortization | -542 | -182 |
Property and equipment, net | 1,502 | 1,584 |
Advertising Display Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost of property and equipment | 1,939 | 1,749 |
Furniture, fixtures and office equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost of property and equipment | 23 | 17 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost of property and equipment | $82 |
Property_and_Equipment_Net_Dep
Property and Equipment, Net - Depreciation of Property and Equipment (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | ||
Total depreciation and amortization | $366 | $182 |
Cost of Revenues [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total depreciation and amortization | 348 | 180 |
Sales and Marketing Expense [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total depreciation and amortization | 4 | 1 |
General and Administrative Expense [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total depreciation and amortization | $14 | $1 |
LongTerm_Deferred_Expenses_Sum
Long-Term Deferred Expenses - Summary of Long-Term Deferred Expenses (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred Expenses Non Current [Line Items] | ||
Deferred costs | $646 | $917 |
Rent Of Advertising Space [Member] | ||
Deferred Expenses Non Current [Line Items] | ||
Weighted average amortization period | 5 years | |
Deferred costs | 384 | 484 |
Concession Approval Fees [Member] | ||
Deferred Expenses Non Current [Line Items] | ||
Weighted average amortization period | 3 years | |
Deferred costs | $262 | $433 |
LongTerm_Deferred_Expenses_Add
Long-Term Deferred Expenses - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred Revenue Disclosure [Abstract] | ||
Amortization of long-term deferred expenses allocated to cost of revenues | $267 | $66 |
Intangible_Assets_Net_Intangib
Intangible Assets, Net - Intangible Assets Other than Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ||
Lease agreements | 6 years | |
Lease Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Lease agreements | 6 years | |
Gross amount Lease agreements | $2,200 | $2,200 |
Accumulated amortization Lease agreements | -565 | -199 |
Net intangible assets Lease agreements | $1,635 | $2,001 |
Intangible_Assets_Net_Addition
Intangible Assets, Net - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Intangible Liability Disclosure [Abstract] | ||
Amortization expense of finite lived intangible assets | $367,000 | $199,000 |
Impairment loss on intangible assets | $0 | $0 |
Recovered_Sheet5
Acquisition Consideration Payable - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jul. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
HK Ad-Icon [Member] | |||
Business Acquisition Information [Line Items] | |||
Extinguishment of consideration | $99 | ||
Shanghai Botang [Member] | |||
Business Acquisition Information [Line Items] | |||
Extinguishment of consideration | $464 | $464 |
Recovered_Sheet6
Accrued Expenses and Other Payables - Schedule of Accrued Expenses and Other Payables (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ||
Accrued professional fees | $492 | $120 |
Accrued payroll | 74 | 13 |
Surcharges payable | 72 | 82 |
Other current liabilities | 101 | 20 |
Total accrued expenses and other payables | $739 | $235 |
Common_Shares_and_Warrants_Add
Common Shares and Warrants - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 1 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Dec. 26, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Apr. 01, 2014 | Jan. 31, 2014 | Feb. 20, 2013 | Nov. 15, 2012 |
Equity [Line Items] | ||||||||
Common stock, shares issued | 7,291,200 | 7,120,148 | 7,291,200 | |||||
Common stock, shares outstanding | 7,291,200 | 7,120,148 | 7,291,200 | |||||
Reverse stock split ratio | 0.2 | 0.2 | ||||||
Reverse stock split description | 1-for-5 | 1-for-5 | ||||||
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 | ||||||
Reduced exercise price of warrants | $12.50 | $6.25 | $6.25 | |||||
Warrants held by participating holders | 0 | 0 | 0 | 708,720 | ||||
Expiration date of warrants not exercised | 19-Feb-13 | |||||||
Extended expiration date of exercised warrants | 26-Dec-13 | |||||||
Exercise of warrants, shares | 657,296 | |||||||
Proceeds from exercise of warrants | $4,108 | |||||||
Directors [Member] | ||||||||
Equity [Line Items] | ||||||||
Shares issued during the period for services | 10,000 | |||||||
Warrant [Member] | ||||||||
Equity [Line Items] | ||||||||
Reverse stock split ratio | 0.2 | 0.2 | ||||||
Reverse stock split description | 1-for-5 | 1-for-5 | ||||||
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 | ||||||
Senior Management [Member] | ||||||||
Equity [Line Items] | ||||||||
Shares issued during the period for services | 4,052 | 157,000 | ||||||
Directors And Consultant [Member] | ||||||||
Equity [Line Items] | ||||||||
Shares issued during the period for services | 157,000 |
Sharebased_Payments_Additional
Share-based Payments - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Jan. 01, 2008 | Mar. 04, 2013 | Nov. 11, 2013 | Dec. 17, 2013 | Dec. 19, 2014 | Aug. 01, 2014 | Dec. 31, 2013 | Apr. 16, 2014 | 20-May-13 | Dec. 14, 2012 | Aug. 31, 2010 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share based compensation arrangement by share options | 0 | 67,000 | ||||||||||||
Reverse stock split ratio | 0.2 | 0.2 | ||||||||||||
Reverse stock split description | 1-for-5 | 1-for-5 | ||||||||||||
Effective date of reverse stock split | 19-Mar-15 | 19-Mar-15 | ||||||||||||
Share options, exercise price | $7.45 | |||||||||||||
Unrecognized share-based compensation cost in respect of granted share options | $81 | $348 | $348 | |||||||||||
Senior Executives [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share options, exercise price | $13.10 | |||||||||||||
Share based compensation arrangement, vesting period | 3 years | |||||||||||||
Share options | 45,000 | |||||||||||||
Restricted share units, vesting date | 4-Jan-10 | |||||||||||||
General and Administrative Expense [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Compensation cost recognized | 267 | 271 | ||||||||||||
March 8, 2013 [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share options, exercise price | $5.25 | |||||||||||||
Share based compensation arrangement, vesting period | 3 years | |||||||||||||
Share options | 25,000 | |||||||||||||
Restricted share units, vesting date | 15-Nov-12 | |||||||||||||
March 17, 2014 [Member] | Senior Executives [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share options, exercise price | $8.25 | |||||||||||||
Share based compensation arrangement, vesting period | 3 years | |||||||||||||
Share options | 20,000 | |||||||||||||
Restricted share units, vesting date | 27-Mar-12 | |||||||||||||
January 2008 [Member] | Senior Executives [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share options, exercise price | $39.40 | |||||||||||||
Share based compensation arrangement, vesting period | 4 years | |||||||||||||
Share options | 8,105 | |||||||||||||
Restricted share units, vesting date | 31-Jan-08 | |||||||||||||
January 2010 [Member] | Senior Executives [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share options, exercise price | $35.70 | |||||||||||||
Share based compensation arrangement, vesting period | 3 years | |||||||||||||
Share options | 4,000 | |||||||||||||
Restricted share units, vesting date | 31-Jan-10 | |||||||||||||
2008 Share Inventive Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share based compensation arrangement by share options | 359,299 | |||||||||||||
Increase in shares authorized | 1,200,000 | 900,000 | 600,000 | |||||||||||
Employee Stock Option [Member] | Senior Executives [Member] | Stock Option Twelve [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share based compensation arrangement by share options | 15,000 | |||||||||||||
Share options, exercise price | $5.10 | |||||||||||||
Share based compensation arrangement, fair value options | 48 | |||||||||||||
Share based compensation arrangement, vesting period | 3 years | |||||||||||||
Employee Stock Option [Member] | Senior Executives [Member] | Stock Option Thirteen [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share based compensation arrangement by share options | 35,000 | |||||||||||||
Share based compensation arrangement, fair value options | 182 | |||||||||||||
Share based compensation arrangement, vesting period | 3 years | |||||||||||||
Weighted average exercise price per share, Granted | $8.10 | |||||||||||||
Employee Stock Option [Member] | Senior Executives [Member] | Stock Option Fourteen [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Share based compensation arrangement by share options | 17,000 | |||||||||||||
Share based compensation arrangement, fair value options | 78 | |||||||||||||
Share based compensation arrangement, vesting period | 1 year | |||||||||||||
Weighted average exercise price per share, Granted | $8.10 | |||||||||||||
Restricted Share Units [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Restricted share units, vesting date | 2-Jan-14 | |||||||||||||
Restricted share units, granted | 73,000 | 195,656 | 157,000 | 6,300 | ||||||||||
Restricted share units, fair value | $190 | $1,340 | $1,272 | $40 | $1,340 | $200 | ||||||||
Restricted share units, forfeited | 2,000 | 40,000 | ||||||||||||
Restricted share units, compensation cost | 169 | 1,377 | ||||||||||||
Unrecognized share-based compensation cost in respect of granted restricted share units | $147 | $48 | $48 | |||||||||||
Restricted Share Units [Member] | Senior Executives [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Restricted share units, granted | 15,000 | 10,000 | 60,000 | 10,000 | ||||||||||
Restricted share units, fair value | $75 | $77 | $40 | $186 | $75 | |||||||||
Restricted share units, vesting period | 3 years | 4 years | ||||||||||||
Restricted Share Units [Member] | Employee [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||||||||||||
Restricted share units, granted | 3,000 | 7,356 | ||||||||||||
Restricted share units, fair value | $13 | $38 | ||||||||||||
Restricted share units, vesting period | 2 years | |||||||||||||
Restricted share units, forfeited | 2,000 |
Share_Based_Payments_Schedule_
Share Based Payments - Schedule of Stock Options Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Number of options, Beginning Balance | 309,105 | 327,105 | |
Number of options, Granted | 0 | 67,000 | |
Number of options, Forfeited | -32,105 | -85,000 | |
Number of options, Ending Balance | 277,000 | 309,105 | 327,105 |
Weighted average exercise price per share, Beginning Balance | $11.50 | $11.80 | |
Number of options, Options Exercisable | 213,667 | ||
Weighted average exercise price per share, Granted | $7.45 | ||
Weighted average exercise price per share, Forfeited | $19.55 | $9.40 | |
Weighted average exercise price per share, Ending Balance | $10.60 | $11.50 | $11.80 |
Aggregate fair value, Beginning Balance | $1,696 | $1,735 | |
Options exercisable at December 31, 2014 | $11.71 | ||
Aggregate fair value, Granted | 308 | ||
Weighted average remaining contractual term | 7 years 2 months 12 days | 8 years 1 month 6 days | 8 years 7 months 6 days |
Aggregate fair value, Forfeited | -218 | -347 | |
Weighted average remaining contractual term | 7 years | ||
Aggregate fair value, Ending Balance | 1,478 | 1,696 | 1,735 |
Aggregate intrinsic value, Beginning Balance | 0 | 0 | |
Aggregate fair value, options exercisable | 1,200 | ||
Aggregate intrinsic value, Granted | 0 | ||
Aggregate intrinsic value, Forfeited | 0 | 0 | |
Aggregate intrinsic value, Ending Balance | 0 | 0 | 0 |
Aggregate intrinsic value, Options exercisable | $0 |
Share_Based_Payments_Schedule_1
Share Based Payments - Schedule of Estimated Grant Date Fair Value of Share Options, Using Binomial Tree Option Pricing Model (Detail) (Employee Stock Option [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Employee Stock Option [Member] | |
Schedule Of Weighted Average Assumptions For Fair Values Of Stock Options [Line Items] | |
Risk-free rate of return | 2.63% |
Weighted average expected option life | 10 years |
Expected volatility rate | 95.26% |
Dividend yield | 0.00% |
Share_Based_Payments_Schedule_2
Share Based Payments - Schedule of Restricted Share Activity (Detail) (Restricted Share Units [Member], USD $) | 0 Months Ended | 12 Months Ended | |||||
Dec. 17, 2013 | Nov. 11, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 17, 2013 | Nov. 11, 2013 | |
Restricted Share Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||||||
Number of restricted share units Granted, Beginning Balance | 161,053 | 29,053 | |||||
Number of restricted share units Granted, Granted | 6,300 | 157,000 | 73,000 | 195,656 | |||
Number of restricted share units Granted, Exercised | -171,053 | -23,656 | |||||
Number of restricted share units Granted, Forfeitures | -2,000 | -40,000 | |||||
Number of restricted share units Granted, Ending Balance | 61,000 | 161,053 | 29,053 | ||||
Number of restricted share units Granted, Units vested | 0 | ||||||
Grant-date fair value, Granted | $239 | $1,502 | |||||
Grant-date fair value, Ending Balance | $40 | $1,272 | $190 | $1,340 | $200 | $40 | $1,272 |
Weighted average remaining contractual term | 9 years 6 months 29 days | 9 years 9 months 4 days | 9 years 5 months 12 days |
Statutory_Reserve_Additional_I
Statutory Reserve - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Regulated Operations [Abstract] | ||
Minimum percentage of profit after taxes required for appropriations to statutory reserve | 10.00% | |
Percentage of entity's registered capital reserve fund reached | 50.00% | |
Appropriations to the statutory reserve funds | $0 | $0 |
Accumulated statutory reserve funds | $0 | $0 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule Of Income Taxes [Line Items] | ||
Income tax benefit | ($41,000) | ($33,000) |
Net operating loss carry forwards, last year of expiration period | 2019 | |
Tiger Yaoyang [Member] | ||
Schedule Of Income Taxes [Line Items] | ||
Pretax loss incurred | 147,000 | 148,000 |
Peoples' Republic of China [Member] | ||
Schedule Of Income Taxes [Line Items] | ||
Effective Income Tax Rate | 25.00% | 25.00% |
Unrecognized Tax Benefits | $0 | $0 |
HK [Member] | ||
Schedule Of Income Taxes [Line Items] | ||
Effective Income Tax Rate | 16.50% | |
HK [Member] | Foreign Tax Authority [Member] | ||
Schedule Of Income Taxes [Line Items] | ||
Effective Income Tax Rate | 16.50% |
Income_Taxes_Summary_of_Income
Income Taxes - Summary of Income Taxes Expenses (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Deferred tax benefits | ||
Deferred tax benefits | ($37) | ($37) |
Income tax benefit | -41 | -33 |
Peoples' Republic of China [Member] | ||
Deferred tax benefits | ||
Deferred tax benefits | -37 | -37 |
HK [Member] | ||
Current tax expense | ||
Current tax expense | ($4) | $4 |
Income_Taxes_Income_Tax_Expens
Income Taxes - Income Tax Expenses for Continuing Operations (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Income Tax Expense Benefit From Continuing Operations [Line Items] | ||
Loss before tax | ($3,574) | ($3,968) |
Income tax benefit | -41 | -33 |
Peoples' Republic of China [Member] | ||
Income Tax Expense Benefit From Continuing Operations [Line Items] | ||
Loss before tax | -3,574 | -3,968 |
Applicable tax rate | 25.00% | 25.00% |
Computed expected tax benefit | -894 | -992 |
Effect on other entities not subject to income tax | 653 | 959 |
Effect on non-deductible cost | 203 | 2 |
HK [Member] | ||
Income Tax Expense Benefit From Continuing Operations [Line Items] | ||
Applicable tax rate | 16.50% | |
Effect on HK entities subject to income tax 16.5% | ($3) | ($2) |
Income_Taxes_Income_Tax_Expens1
Income Taxes - Income Tax Expenses for Continuing Operations (Parenthetical) (Detail) (HK [Member]) | 12 Months Ended |
Dec. 31, 2014 | |
HK [Member] | |
Income Tax Expense Benefit From Continuing Operations [Line Items] | |
Applicable tax rate | 16.50% |
Income_Taxes_Significant_Porti
Income Taxes - Significant Portions of Deferred Tax Assets (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets-current: | ||
Tax loss carried forwards of a subsidiary | $74 | $37 |
Recovered_Sheet7
Related Party Transactions and Balances - Summary of Related Party Transactions (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Advertising [Member] | ||
Related Party Transaction [Line Items] | ||
Costs of leases of advertising spaces | $375 | $166 |
Chief Operating Officer [Member] | Lease Agreements [Member] | ||
Related Party Transaction [Line Items] | ||
Purchase of lease agreements | $2,200 |
Recovered_Sheet8
Related Party Transactions and Balances - Summary of Related Party Transactions (Parenthetical) (Detail) (Chief Operating Officer [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Lease_Agreement | |
Chief Operating Officer [Member] | |
Related Party Transaction [Line Items] | |
Common shares issued | 410,000 |
Key lease agreements acquired | 8 |
Related_Party_Transactions_and2
Related Party Transactions and Balances - Schedule of Amounts due from Related Parties (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Related Party Transaction [Line Items] | |
Prepayment for leases of advertising space | $40 |
Advertising [Member] | |
Related Party Transaction [Line Items] | |
Prepayment for leases of advertising space | $40 |
Related_Party_Transactions_and3
Related Party Transactions and Balances - Schedule of Amounts due to Related Parties (Detail) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Related Party Transaction [Line Items] | ||
Board member fee | $10 | $42 |
Due to related parties | 65 | 73 |
Compensation Committee Chairman [Member] | ||
Related Party Transaction [Line Items] | ||
Due to related parties | 1 | 1 |
Audit Committee Chairman [Member] | ||
Related Party Transaction [Line Items] | ||
Due to related parties | 5 | 30 |
Chief Operating Officer [Member] | ||
Related Party Transaction [Line Items] | ||
Payables for the lease of advertising spaces | 40 | |
Operating expenses paid on behalf of the Company | $9 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Employee Benefit Plans [Line Items] | ||
Employer contribution | 5.00% | |
Minimum [Member] | ||
Employee Benefit Plans [Line Items] | ||
Range of other statutory benefits | 1.00% | |
Maximum [Member] | ||
Employee Benefit Plans [Line Items] | ||
Range of other statutory benefits | 10.00% | |
Provident Fund [Member] | ||
Employee Benefit Plans [Line Items] | ||
Employer contribution | 5.00% | |
Contribution for employee benefits | $2 | $2 |
Medical Insurance Benefits [Member] | ||
Employee Benefit Plans [Line Items] | ||
Contribution for employee benefits | 35 | 168 |
Housing Funds [Member] | ||
Employee Benefit Plans [Line Items] | ||
Contribution for employee benefits | 22 | 98 |
Other Benefits [Member] | ||
Employee Benefit Plans [Line Items] | ||
Contribution for employee benefits | 15 | 42 |
Pension Plan [Member] | ||
Employee Benefit Plans [Line Items] | ||
Employer contribution | 21.00% | 22.00% |
Contribution for employee benefits | $67 | $308 |
Recovered_Sheet9
Commitments and Contingencies - Future Minimum Rental Payments under Noncancellable Operating Leases (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
2015 | $1,097 |
2016 | 548 |
2017 | 283 |
2018 | 214 |
Operating leases, Total | $2,142 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | |
Material capital commitment under non-cancellable advertising equipment construction contracts | $142 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | ||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 17, 2013 | Nov. 11, 2013 | Nov. 30, 2012 | Mar. 21, 2015 | Mar. 19, 2015 | Mar. 19, 2015 | Jan. 28, 2015 | Mar. 28, 2015 | Jan. 31, 2015 | Mar. 21, 2015 | Mar. 17, 2015 | Dec. 31, 2012 | |
Subsequent Event [Line Items] | ||||||||||||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | ||||||||||||
Preferred shares, authorized | 10,000,000 | |||||||||||||
Common stock, par value | $0.00 | $0.00 | ||||||||||||
Reverse stock split ratio | 0.2 | 0.2 | ||||||||||||
Warrant [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Reverse stock split ratio | 0.2 | 0.2 | ||||||||||||
Reverse Stock Split [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Common stock, shares increase decrease | 1,000,000,000 | |||||||||||||
Common stock, shares authorized | 200,000,000 | |||||||||||||
Restricted Share Units [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Number of Assumed equity awards outstanding of acquired entity | 61,000 | 161,053 | 29,053 | |||||||||||
Granted restricted share units | 73,000 | 195,656 | 6,300 | 157,000 | ||||||||||
Shanghai Tiger Shangda [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Equity interest | 100.00% | |||||||||||||
Tiger Yaoyang [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Intangible assets recognized | $1,990,000 | |||||||||||||
Non-controlling interest recognized | 515,000 | |||||||||||||
Additional paid-in capital recognized | 862,000 | |||||||||||||
Best One Inc [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Equity interest | 100.00% | |||||||||||||
Best One Inc [Member] | Restricted Share Units [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Share Based Compensation Description | The RSUs vest annually beginning OctoberB 13, 2015 only if certain performance goals of Tiger Media are met. The shares underlying such RSUs will not be delivered until OctoberB 13, 2018, unless there is a change of control of Tiger Media. | |||||||||||||
Subsequent Event [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Common stock, converted | 4,016,846 | |||||||||||||
Common stock, par value | $0.00 | 0.0005 | ||||||||||||
Preferred stock, earn out | 1,800,220 | |||||||||||||
Reverse stock split ratio | 0.2 | |||||||||||||
Subsequent Event [Member] | Series A- Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 4,200,511 | 4,200,511 | ||||||||||||
Preferred stock, par value | $0.00 | 0.0001 | ||||||||||||
Subsequent Event [Member] | Series B Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 764,791 | 764,791 | ||||||||||||
Subsequent Event [Member] | Series C Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 480,057 | 480,057 | ||||||||||||
Subsequent Event [Member] | Series D Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Common stock, converted | 900,108 | |||||||||||||
Preferred stock, issued | 2,100,252 | 2,100,252 | ||||||||||||
Subsequent Event [Member] | Restricted Share Units [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Reverse stock split ratio | 0.2 | |||||||||||||
Subsequent Event [Member] | Restricted Share Units [Member] | Executive Officers And Directors [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Granted restricted share units | 355,800 | |||||||||||||
Subsequent Event [Member] | Restricted Share Units [Member] | Non Employee Director [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Granted restricted share units | 136,000 | |||||||||||||
Subsequent Event [Member] | Employee Stock Option [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Number of Assumed equity awards outstanding of acquired entity | 960,000 | 960,000 | ||||||||||||
Subsequent Event [Member] | Shanghai Tiger Shangda [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Equity interest | 100.00% | |||||||||||||
Lease contract period | 10 years | |||||||||||||
Subsequent Event [Member] | Tiger Yaoyang [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Acquisition of intangible assets in exchange of equity interest | 46.00% | |||||||||||||
Subsequent Event [Member] | Interactive Data [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Equity interest | 100.00% | |||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Common stock, converted | 4,016,846 | |||||||||||||
Common stock no par value | $0 | 0 | ||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Maximum [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Maximum number of warrants exercised | 17,250,785 | 17,250,785 | ||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Series A- Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 8,000 | 8,000 | ||||||||||||
Preferred stock, par value | $0.00 | 0.001 | ||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Series B Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 1,019,600 | 1,019,600 | ||||||||||||
Preferred stock, par value | $0.00 | 0.001 | ||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Series C Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 640,000 | 640,000 | ||||||||||||
Preferred stock, par value | $0.00 | 0.001 | ||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Series D Convertible Preferred Stock [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Preferred stock, issued | 4,000 | 4,000 | ||||||||||||
Preferred stock, par value | $0.00 | 0.001 | ||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Warrant [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Number of Assumed equity awards outstanding of acquired entity | 960,000 | 960,000 | ||||||||||||
Number of equity awards | 960,000 | |||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Restricted Share Units [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Number of Assumed equity awards outstanding of acquired entity | 2,000,000 | 2,000,000 | ||||||||||||
Number of equity awards | 2,000,000 | |||||||||||||
Subsequent Event [Member] | Best One Inc [Member] | Employee Stock Option [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Number of equity awards | 960,000 | |||||||||||||
Subsequent Event [Member] | Canada Lease Dispute [Member] | ||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||
Revenue | $210,000 |